uis, a single taxpayer, has taxable income before the QBI deduction of $184,900. Luis is a doctor who operates a medical practice as a single member LLC (reporting as a sole proprietorship). During the year, his proprietorship generates qualified business income of $175,000, W-2 wages of $60,000, and has $10,000 of qualified property. What is Luis' qualified business income deduction?
uis, a single taxpayer, has taxable income before the QBI deduction of $184,900. Luis is a doctor who operates a medical practice as a single member LLC (reporting as a sole proprietorship). During the year, his proprietorship generates qualified business income of $175,000, W-2 wages of $60,000, and has $10,000 of qualified property. What is Luis' qualified business income deduction?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 34P
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Luis, a single taxpayer, has taxable income before the QBI deduction of $184,900. Luis is a doctor who operates a medical practice as a single member LLC (reporting as a sole proprietorship). During the year, his proprietorship generates qualified business income of $175,000, W-2 wages of $60,000, and has $10,000 of qualified property. What is Luis' qualified business income deduction?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT