Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. shelly has $200,000 of qbi from her local jewelry

Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship...

80.2K

Verified Solution

Question

Accounting

Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000 in W2 wages and has $20,000 of qualified property. Shellys spouse earned $74,000 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly and using the standard deduction.

What is their QBI deduction for 2018?

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!
Become a Member

Other questions asked by students

Q

The Woodruff Corporation purchased a piece of equipment three years ago for $247,000. It has an...

Finance
Q

Consider the function f x on the interval 2 11 Find the average rate of...

Calculus
Q

Given the graph of y f x what is the value of f 0 5...

Algebra
Q

4 Party Mart 2 400 Adjust Eat Sale...

Accounting
Q

Img 8 Intermediate: Non-graphical CVP analysis and the acceptance of a special order. Video Technology...

Accounting
Q

Calc, Inc. owns a machine that produces baskets for the gift packages the company sells....

Accounting
Q

If gross margin of $35,000 is 28% of net sales revenues, then net sales revenues...

Accounting
Q

Journalizing Purchases Returns and Allowances and Posting to General Ledger and Accounts Payable Ledger Transactions...

Accounting
Q

Intemedate Accounting I(ACC310 Assignment Q1 (5 Marks) 1-Plant assets may properly include a. deposits on...

Accounting
Q

The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $5.7 million,...

Finance
Q

Exercise 2.15 Cost of Goods Manufactured and Sold LeMans Company produces specialty papers at its...

Accounting
Q

a company has 412000 shares. When $879500 of its annual profit is distributed to the...

Finance