Donald (a married taxpayer filing jointly) owns a wide variety of commercial rental properties held in a single member LLC. Donald's LLC reports rental income of $1,500,000. The LLC pays no W–2 wages; rather, it pays a management fee to an S corporation Donald controls. The management company pays W–2 wages but reports no income (or loss). Donald's total unadjusted basis of the commercial rental property is $10,000,000. Donald's taxable income before the QBI deduction (and his modified taxable income) is $2,000,000. What is Donald's QBI deduction for 2020? $

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