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nikklg [1K]
3 years ago
8

Jack and Mary, a married couple, report taxable income of $280,000, which includes $200,000 from Jack's solely owned S corporati

on. 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.
Business
1 answer:
Strike441 [17]3 years ago
4 0

Answer:

$32,140

Explanation:

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

Eligible Deduction of 20% on QBI                                            $32,140

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The correct option is C, $14.29  

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A 7-2 stock split means that 7 shares now have the value of 2 shares held previously.

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The price of the share after the stock split the value of 2 shares before stock split divided by 7 shares i.e   ($50*2)/7=$ 14.29  

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Answer:

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