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In 2020, Meghann Carlson, a single taxpayer, has QBI of $118,600 and modified taxable income of $83,020 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's
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In 2020, Meghann Carlson, a single taxpayer, has QBI of $118,600 and modified taxable income of $83,020 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's QBI deduction

User Tim Coulter
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4.0k points

1 Answer

2 votes

Answer:

$16,604

Step-by-step explanation:

Calculation to determine Meghann's QBI deduction

Using this formula

Meghann's QBI deduction = Taxable income *Tax rate

Meghann's QBI deduction =$83,020 x 20%

Meghann's QBI deduction =$16,604

Therefore Meghann's QBI deduction is $16,604

User JD Brennan
by
3.8k points
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