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What is Thad QBI deduction

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Problem - Thad, a single taxpayer, reports taxable income before the QBI deduction of $190,700. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During the tax year, his proprietorship generates qualified business income of $150,000 after deducting self-employment taxes, W-2 wages of $125,000, and $10,000 of qualified property. What is Thad's QBI deduction?

Reference no: EM132660492

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