39. Jenna Parker owns and manages her single-member LLC, which provides a wide variety of...
50.1K
Verified Solution
Link Copied!
Question
Accounting
39. Jenna Parker owns and manages her single-member LLC, which provides a wide variety of financial services to her clients. She is married and will file a joint tax return with her spouse, Paul. Her LLC reports $ 300,000 of net income, W-2 wages of $ 120,000, and assets with an unadjusted basis of $ 75,000. Their taxable income before the QBI deduction is $ 285,000 (this is also modified taxable income). What is their QBI deduction for 2021? a. $-0- b. $ 57,000. C. $ 60,000. d. $ 70,000. e. None of these
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
