Margarita operates a sole proprietorship that earns$ 100,000 of qualified business income after deducting salaries...
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Accounting
Margarita operates a sole proprietorship that earns$ 100,000 of qualified business income after deducting salaries of$ 300,000. The sole proprietorship is not a specified service business. She files a single tax return for 2020. Assume her taxable income before the
QBI deduction is$ 175,000. Margarita's QBI deduction for 2020 is:
a. $-0-.
b. $20,000.
c. $35,000.
d. $60,000.
e. $80,000.
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