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Part1 Noor is single and has taxable income before the QBI deduction of $180,700. Noor owns a sole proprietorship that produced net ordinary income of $180,000 and subject to self-employment tax of $21,300. The business paid total W-2 wages of $68,000 and the total unadjusted basis of property held by the business is $100,000. How much is Noor's QBI deduction? Part2 Charmaine, who is single for tax purposes, has AGI, properly calculated, of $40,000. During the year 2019, Charmaine made the following transactions: Residence interest paid (balance $360,000) $11,200 Deductible medical expenses 4,200 State income and property taxes 1.650 Cash contribution to church 3,200 A painting which Charmaine owned five years given to Eve University, a public university, for display in the library (basis, $880), FMV 14,500 Stock held for 10 months as an investment given to Hope for Pets, a qualified charity (basis, $900), FMV 1,200 How much is Charmaine's taxable income? Part1 Noor is single and has taxable income before the QBI deduction of $180,700. Noor owns a sole proprietorship that produced net ordinary income of $180,000 and subject to self-employment tax of $21,300. The business paid total W-2 wages of $68,000 and the total unadjusted basis of property held by the business is $100,000. How much is Noor's QBI deduction? Part2 Charmaine, who is single for tax purposes, has AGI, properly calculated, of $40,000. During the year 2019, Charmaine made the following transactions: Residence interest paid (balance $360,000) $11,200 Deductible medical expenses 4,200 State income and property taxes 1.650 Cash contribution to church 3,200 A painting which Charmaine owned five years given to Eve University, a public university, for display in the library (basis, $880), FMV 14,500 Stock held for 10 months as an investment given to Hope for Pets, a qualified charity (basis, $900), FMV 1,200 How much is Charmaine's taxable income

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