What is kyras tentative qbi based on the w-2 wages

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Question: Kyra, a single taxpayer, owns and operates a bakery (as a sole proprietorship). The business is not a "specified services" business. In 2022, the business pays $60,000 of W-2 wages, has $150,000 of qualified property, and generates $200,000 of qualified business income. Kyra also has a part-time job earning wages of $11,500 and receives $3,450 of interest income. Her standard deduction is $12,950.

What is Kyra's tentative QBI based on the W-2 Wages/Capital Investment Limit is $30.000

Determine Kyra's allowable QBI deduction?

Reference no: EM133432719

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