Jose is married filing a joint return.In 2019,he earned $160,000 of profit from his sole proprietorship,which operates a service business.The business paid no W-2 wages in 2019 and owns no tangible business property.
a.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $300,000 before the deduction.
b.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $340,000 before the deduction.

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The Answer of Jose is married filing a joint return.In 2019,he earned $160,000 of profit from his sole proprietorship,which operates a service business.The business paid no W-2 wages in 2019 and owns no tangible business property.
a.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $300,000 before the deduction.
b.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $340,000 before the deduction.

Jose Is Married Filing a Joint Return