Bill and Edna are married and file a joint tax return in 2021. What is their applicable threshold for the Â§ 199A pass-through d

Question

Elodia [21]

3 years ago

8

Bill and Edna are married and file a joint tax return in 2021. What is their applicable threshold for the Â§ 199A pass-through d

eduction?.

Business

1 answer:

gladu [14] · Answer 1 · 2022-10-07T17:52:10+03:00

Considering the situation described above, the applicable threshold for the A 199A pass-through deduction is "$326,600."

This is according to the IRS (Internal Revenue Service), which stated that for the taxable year 2021, the amounts is given as:

Married Filing Jointly Threshold: $326,600;

Phase-in Range: above $326,600 up to $426,600;

All others Threshold: $163,300;

Phase-in Range: above $163,300 up to $213,300.

Therefore, given that Bill and Edna are filing jointly as a married couple, then the applicable threshold for the A 199A pass-through deduction is "$326,600."

Hence, in this case, it is concluded that the correct answer is "$326,600."

Learn more about tax returns here: brainly.com/question/2135349