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What is conrad qualified business income deduction

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Problem - Assume the same facts as in Problem 37, except that the business is a "specified services" business (e.g., a consulting firm) owned equally by Elliot and Conrad (an unrelated individual) in a two-member LLC. Assume that each member's share of qualified business income, W-2 wages, and qualified business property is one-half of the information provided in Problem. Conrad's wife, Rachel, earned wages during the year of $350,000, and Conrad and Rachel have itemized deductions of $62,000.

Required -

a. What is Elliot's qualified business income deduction?

b. What is Conrad's qualified business income deduction?

Reference no: EM132644721

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