Jose is married filing a joint return. In 2020, he earned $160,000 of profit from his sole proprietorship, which operates a service business. The business paid no W-2 wages in 2020 and owns no tangible business property.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $300,000 before the deduction.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 2020, he earned $160,000 of profit from his sole proprietorship, which operates a service business. The business paid no W-2 wages in 2020 and owns no tangible business property.Compute Jose's allowable QBI deduction if his joint return reflects taxable income of $300,000 before the deduction.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