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Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does...

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Accounting

Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does not do any work for Guardian Corporation. Guardian Corporation reported $304,000 of business income for the year (2023). Before considering her business income allocation from Guardian Corporation and the self-employment tax deduction (if any), Kiyara's adjusted gross income was $254,000(all employee salary). Kiyara has $40,200 in itemized deductions. Answer the following questions for Kiyara.
Note: Leave no answer blank. Enter zero if applicable.
Problem 15-45 Part b (Algo)
b. Assuming the income allocated to Kiyara is qualified business income, what is Kiyara's deduction for qualified business income? Assume Kiyara's share of wages paid by Guardian Corporation is $51,000 and her share in the unadjusted basis of qualified property used by Guardian was $202,000.
Deduction for qualified business income
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