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Jack and Mary, a married couple, report taxable income of $280,000, which includes $200,000 from Jack's solely owned S corporation. The S corporation paid wages of $100,000 to employees (which does not
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Jack and Mary, a married couple, report taxable income of $280,000, which includes $200,000 from Jack's solely owned S corporation. The S corporation paid wages of $100,000 to employees (which does not include his salary). No acquisitions of depreciable property were made during the year.

Calculate the couple's QBI deduction.

User Abhishek Prakash
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1 Answer

3 votes

Answer:

$32,140

Step-by-step explanation:

The QBI on $280,000(57.3% of Taxable income) $160,700

Eligible Deduction of 20% on QBI $32,140

User Quintonm
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