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What is the amount of QBI deduction

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Reference no: EM132524743

Question - Jennifer, who files a joint return, operates a business as a sole proprietor. The business had net income before wages of $575,000. The business paid wages of $300,000 to its employees. During the year the business acquired property with an adjusted basis of $850,000. Their taxable income before QBI deduction is $341,000. What is the amount of QBI deduction? (Ignore SE taxes associated with the sole proprietorship.

A. $44,275

B. $55,000

C. $68,200

D. $114,000

E. $96,2501.

Reference no: EM132524743

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