Transcribed Image Text
In: AccountingDetermine whether the following taxpayers are eligible for theQBI deduction and the deduction amount (if...Determine whether the following taxpayers are eligible for theQBI deduction and the deduction amount (if any). Cathy is marriedand files a joint return with her spouse. Cathy operates a smallfamily restaurant as a sole proprietor. She pays wages of $70,000and the QBI from the restaurant is $100,000. Cathy’s spouse haswages of $250,000 and their joint taxable income is $364,000. IsCathy eligible for QBI deduction? Answer yes or no If eligible, howmuch is the QBI deduction amount?
Other questions asked by students
Q
Consider an ideal monatomic gas og N indistinguishable particles, mass m each and total energy U,...
Chemistry
Physics
General Management
Basic Math
Accounting