Una Chin (a single taxpayer) is the owner Enterprise LLC, which designs and sells covers for tablets and mobile telephones. The LLC (which reports as a sole proprietorship) generates qualified business income of $750,250. Enterprise LLC paid total W-2 wages of $250,000 and the total unadjusted basis of property held by Enterprise LLC is $3,000,000. Una's taxable income before the qualified business income deduction is $635,100. What is Una's QBI deduction?

Una Chin (a single taxpayer) is the owner Enterprise LLC, which designs and sells covers for tablets and mobile telephones. The LLC (which reports as a sole proprietorship) generates qualified business income of $750,250. Enterprise LLC paid total W-2 wages of $250,000 and the total unadjusted basis of property held by Enterprise LLC is $3,000,000. Una's taxable income before the qualified business income deduction is $635,100. What is Una's QBI deduction?

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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