Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business...
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Accounting
Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business is not a specified services business. In 2019, the business pays $100,000 in W2 wages, holds $150,000 of qualified property, and generates $150,000 of qualified business income. Susan has no other items of income or loss and will take the standard deduction.
Assume the QBI amount is net of the self-employment tax deduction.
What is Susan's QBI deduction?
IT IS NOT 50,000 or 30,000
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