Jason and Paula are married. They file a joint return for 2023 on which they...
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Jason and Paula are married. They file a joint return for on which they report taxable income before the QBI deduction of $ Jason operates a sole proprietorship, and Paula is a partner in the PQRS Partnership. Both are a qualified trade or business, and neither is a "specified services" business. Jason's sole proprietorship generates $ of qualified business income and wages of $ and has qualified property of $ Paula's partnership reports a loss for the year, and her allocable share of the loss is $ The partnership reports no wages, and Paula's share of the partnership's qualified property is $ Assume the QBI amount is net of the selfemployment tax deduction. What is their QBI deduction for the year?
Jason and Paula are married. They file a joint return for on which they report taxable income before the QBI deduction of $ Jason operates a sole proprietorship, and Paula is a partner in the PQRS Partnership. Both are a qualified trade or business, and neither is a "specified services" business. Jason's sole proprietorship generates $ of qualified business income and wages of $ and has qualified property of $ Paula's partnership reports a loss for the year, and her allocable share of the loss is $ The partnership reports no wages, and Paula's share of the partnership's qualified property is $
Assume the QBI amount is net of the selfemployment tax deduction.
What is their QBI deduction for the year?
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