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What is Penelope Qualified Business Income

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Question - Penelope is a single taxpayer and operates a small business as a sole proprietor. In 2019, her business generates $72,000 of gross business income, $41,000 of business expenses, $5,000 of interest income, and a $1,500 capital gain. What is Penelope's Qualified Business Income (QBI)?

Reference no: EM132693552

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