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In 2022, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding customers...

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Accounting

In 2022, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding customers using various platforms like Uber and Grubhub. He is single and has no other sources of income. In 2022, Henry's qualified business income from driving is $87,650. Assume Henry takes the standard deduction of $12,950.
Click here to access the 2022 individual tax rate schedule to use for this problem.
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Assume the QBI amount is net of the self-employment tax deduction. Round the tax computation to the nearest dollar.
a. Compute Henry's QBI deduction and his income tax liability for 2022.
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