Rebecca and Brad are married and will file jointly.Rebecca earns $300,000 from her single member LLC (a law firm).She reports her business as a sole proprietorship.Wages paid by the law firm amount to $40,000? the law firm has no significant property.Brad is employed as a tax manager by a local CPA firm.Their modified taxable income is $375,000 (this is also their taxable income before the deduction for qualified business income).Determine their QBI deduction for 2018.

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The Answer of Rebecca and Brad are married and will file jointly.Rebecca earns $300,000 from her single member LLC (a law firm).She reports her business as a sole proprietorship.Wages paid by the law firm amount to $40,000? the law firm has no significant property.Brad is employed as a tax manager by a local CPA firm.Their modified taxable income is $375,000 (this is also their taxable income before the deduction for qualified business income).Determine their QBI deduction for 2018.

Rebecca and Brad Are Married and Will File Jointly