[The following information applies to the questions displayed below.] Jacob is a member...
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Accounting
The following information applies to the questions displayed below.
Jacob is a member of WCC an LLC taxed as a partnership Jacob was allocated $ of business income from WCC for the year. Jacob's marginal income tax rate is percent. The business allocation is subject to percent of selfemployment tax and percent additional Medicare tax.
Note: Round your intermediate calculations to the nearest whole dollar amount.
b What is the amount of tax Jacob will owe on the income allocation if the income is qualified business income QBI and Jacob qualifies for the full QBI deduction?
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