Zofia is self-employed, files a Schedule C, and owns a business that is a qualified business for calculation of QBI. Zofia had $94,000 in taxable business income on Schedule C. On 10/30/2021, Zofia sold some office equipment for $7,020 that was purchased on 04/01/2018 for a cost of $8,775. The office equipment is being depreciated over 7-year MACRS half-year convention. Zofia has no other qualified businesses. Zofia's taxable income for the income limitation is $102,000. (Hint: it
Zofia is self-employed, files a Schedule C, and owns a business that is a qualified business for calculation of QBI. Zofia had $94,000 in taxable business income on Schedule C. On 10/30/2021, Zofia sold some office equipment for $7,020 that was purchased on 04/01/2018 for a cost of $8,775. The office equipment is being
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