Determine the qbi deduction for each member

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Reference no: EM133335575

Assignment:

Under the new Jobs Act, specifically Regulation Section 199A, assume you have the following facts for a Furniture Manufacturing Partnership:

1. Is a Limited Liability Corporation electing Partnership tax status

2. Has two Individual members, each owning 50 percent, each owner had individual taxable income of $5,200,000

3. Taxable Income of the LLC for 2018 is $10,000,000

4. Total W-2 wages ( not including owners) are $6,000,000 Question: Assume Partnership and each member is eligible for the QBI Deduction, compute the QBI deduction for each member.

Reference no: EM133335575

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