Thad, a single taxpayer, has taxable income before the QBI deduction of $198,500. Thad, a...
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Accounting
Thad, a single taxpayer, has taxable income before the QBI deduction of $198,500. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $158,800, W2 wages of $119,100, and $9,200 of qualified property.
If required, round any division to two decimal places. Round your final answer to the nearest dollar.
What is Thad's qualified business income deduction?
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