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2. Which is NOT true of the QBI-Qualified Business Income Deduction? Caution: read all answers before...

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Accounting

2. Which is NOT true of the QBI-Qualified Business IncomeDeduction? Caution: read all answers before you choose.

a. The QBI is 20%

b. The QBI doesn't reduce self-employment tax

c. The QBI doesn't reduce adjusted gross income

d. If married people, make more than $315,000 or single peoplemake more than $157,500 there are many limitations on thisdeduction

e. The QBI can be used for sole proprietorships (schedule C),partnerships, or Sub S corporations.

f. All of the following are true.

Answer & Explanation Solved by verified expert
4.1 Ratings (796 Votes)
Answer Option f All of the following are true Explanation Option a The deduction under section 199A of the Tax Cuts and Jobs act allows 20 deduction to QBI Option b QBI is    See Answer
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