1. Dakota owns a CPA firm which is a specified activity. Dakota is married and...
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1. Dakota owns a CPA firm which is a specified activity. Dakota is married and files a joint return. Dakota's taxable income and modified taxable income is $336,600. Her business had gross income of $500,000 and had expenses of $200,000. The business paid W-2 wages of $75,000 and had a basis in the assets used in the business of $150,000. What is Dakota's qualified business deduction for the year? 1. Dakota owns a CPA firm which is a specified activity. Dakota is married and files a joint return. Dakota's taxable income and modified taxable income is $336,600. Her business had gross income of $500,000 and had expenses of $200,000. The business paid W-2 wages of $75,000 and had a basis in the assets used in the business of $150,000. What is Dakota's qualified business deduction for the year
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