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Thad, a single taxpayer, has taxable income before the QBI deduction of $212,100. Thad, a...

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Accounting

image Thad, a single taxpayer, has taxable income before the QBI deduction of $212,100. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2023, his proprietorship generates qualified business income of $150,000,W2 wages of $125,000, and $10,000 of qualified property. Assume the QBI amount is net of the self-employment tax deduction. What is Thad's qualified business income deduction? x

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