What is kenneths qualified business income deduction

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Reference no: EM133606294

Question: Kenneth, single, is the sole shareholder of Kenneth's Tool and Dye, Inc., a tool and dye manufacturing company operating as an S corporation. Kenneth reports qualified business income of $117,300 and he has no employees. He also has qualified dividend income of $4,500. He has no itemized deductions and claims the standard deduction of $13,850 on his 2023 Form 1040. What is Kenneth's qualified business income deduction?

Reference no: EM133606294

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