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What is their QBI deduction

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Question - Tammy has $220,000 of net income from her neighborhood clothing store (a sole proprietorship). The $220,000 includes $20,000 of interest income from business bank accounts. Tammy's spouse earned $50,000 of wages as an employee, they will be filing jointly for 2020. They will take the standard deduction of $24,400 for 2020. What is their QBI deduction for 2020?

Reference no: EM132774197

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