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What is Tanner qualified business income deduction

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Reference no: EM133028967

Question - Tanner, a single taxpayer, has taxable income before the QBI deduction of $190,700. Tanner, a lawyer, operates a law practice as a single member LLC (which he reports as a sole proprietorship). During 2020, his proprietorship reports net income of $160,000, W-2 wages of $125,000, and $10,000 of qualified property. What is Tanner's qualified business income deduction?

Reference no: EM133028967

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