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Determine ben qbi deduction

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Reference no: EM133132602

Question - Ben Williams is a CPA and tax attorney and operates a tax law firm as a sole proprietor. Moreover, Ben is married and will file married filing jointly with his spouse. Ben offers you the following information to help him calculate his QBI deduction:

The Law firm's QBI is $685,000.

W-2 wages of $175,000.

The unadjusted basis of property used in the LLC is $525,000.

Taxable income before the QBI deduction is $495,000 (same as modified taxable income).

Required - Determine Ben's QBI deduction for 2021. Explain your answer.

Reference no: EM133132602

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