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 $74,000 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 2018?
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Ответ:
QBI deduction for 2018 = $40,000
Explanation:
given data
sole proprietorship = $200,000
proprietorship paid = $30,000
qualified property = $20,000
spouse earned = $74,000
interest income = $20,000
solution
we know that for joint filter taxable income is less than $315000
QBI is limited to 20% of qualified business income
so
here total taxable income is $200000 + $74000 = $274000 that is less than threshold limit of $315000
so claim QBI deduction of 20% on qualified business income $200000
so
QBI deduction for 2018 is
QBI deduction for 2018 = QBI × 20%
QBI deduction for 2018 = $200000 × 20%
QBI deduction for 2018 = $40,000
Ответ:
me bored too
Explanation:
thanks <3