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Business, 09.09.2020 20:01 roorootx

Thad, a single taxpayer, has taxable income before the QBI deduction of $193,300. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2020, his proprietorship generates qualified business income of $150,000, W–2 wages of $125,000, and $10,000 of qualified property. What is Thad’s qualified business income deduction?

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Thad, a single taxpayer, has taxable income before the QBI deduction of $193,300. Thad, a CPA, opera...

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