Assuming Aravind's business does not qualify under the gross income test, what is the business...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Assuming Aravind's business does not qualify under the gross income test, what is the business interest limitation that Aravind will be subject to this year if he operates a business that generated revenues of $50 million and adjusted taxable income of $1.25 million (adjusted taxable income includes $1 million of business interest and $600,000 of depreciation, and Aravind has a $250,000 qualified business income deduction)? Group of answer choices $675,000 $855,000 $930,000 $1,000,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
