Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 9, Problem 41P

Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly’s proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property. Shelly’s spouse earned $74,400 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly and using the standard deduction. What is their QBI deduction for 2019?

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Individual Income Taxes

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