Mukhi Annika has $200,000 of QB1 from her neighborhood clothing store (a sole proprietorship). Her proprietorship paid$30,000 in W-2 wages and has $20,000 of qualified property. Annika's spouse cared $50,000 of wages as anemployee, they earned $20,000 of interest income during the year, and they will be filing jointly. What is their QBIdeduction for 2023?50.$40,000.O $50,000.O $54,000.

A qualified business income (QBI), is the net of business income or loss from the business,…

Annika has $200,000 of QBI from her neighborhood clothing store (a sole proprietorship). Her proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property. Annika's spouse earned $50,000 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly. What is their QBI deduction for 2023? O $0. O $40,000 O $50,000. $54,000.

Annika has $200,000 of QBI from her neighborhood clothing store (a sole proprietorship). Her proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property. Annika's spouse earned $50,000 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly. What is their QBI deduction for 2023? O $0. O $40,000 O $50,000. $54,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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