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What is Susan qualified business income deductions

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Reference no: EM132660505

Problem - Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business is not a specified services business. In 2019, the business pays $100,000 in W-2 wages, holds $150,000 of qualified property, and reports $350,000 of qualified business income (all of which is qualified business income). Susan has no other items of income or loss and will take the standard deduction. What is Susan's qualified business income deduction?

Reference no: EM132660505

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