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What is Thad qualified business income deduction

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Reference no: EM132644752

Problem - Thad, a single taxpayer, has taxable income before the QBI deduction of $190,700. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2019, his proprietorship generates qualified business income of $150,000, W-2 wages of $125,000, and $10,000 of qualified property. What is Thad's qualified business income deduction?

Reference no: EM132644752

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