What is Tristan's QBI deduction?   b. Assume that Tristan can aggregate these businesses. Determine her QBI deduction if she decides to aggregate the businesses.

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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Federal Income Tax II

 

Please show work by EXCEL

 

Tristan, who is single, operates three sole proprietorships that generate the following information in 2023 (none are "specified services" businesses). (LO

.4)

 

 

 

Tristan chooses not to aggregate the businesses. She also earns $150,000 of wages from an unrelated business, and her modified taxable income (before any QBI deduction) is $380,000.

 

a. What is Tristan's QBI deduction?

 

b. Assume that Tristan can aggregate these businesses. Determine her QBI deduction if she decides to aggregate the businesses.

Business
A
B
C
QBI
$300,000
(135,000)
150,000
W-2 Wages
$90,000
60,000
-0-
Capital Investment
$-0-
-0-
-0-
Transcribed Image Text:Business A B C QBI $300,000 (135,000) 150,000 W-2 Wages $90,000 60,000 -0- Capital Investment $-0- -0- -0-
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