Campbell, a single taxpayer, has $400,000 of profits from her general store, which she operates as a sole proprietorship.She has no employees, $40,000 of qualified property, and $500,000 of taxable income before the deduction for qualified business income.How much is Campbell's deduction for qualified business income?
A) $100,000.
B) $80,000.
C) $20,000.
D) $1,000.
E) $0.
Correct Answer:
Verified
Q51: Colby is employed full time as a
Q52: This year Darcy made the following charitable
Q53: Campbell, a single taxpayer, has $95,000 of
Q54: Homer is an executive who is paid
Q55: This year, Benjamin Hassell paid $20,000 of
Q57: Bryan is 67 years old and lives
Q58: Which of the following is a true
Q60: Rochelle, a single taxpayer (age 47), has
Q61: Toshiomi works as a sales representative and
Q114: Claire donated 200 publicly traded shares of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents