Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shellys proprietorship...
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Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shellys proprietorship paid $30,000 in W2 wages and has $20,000 of qualified property. Shellys spouse earned $77,700 of wages as an employee, they earned $20,000 of interest income during the year and have no other income or deductions. Shelly and her spouse will file jointly and use the standard deduction. What is their QBI deduction for 2023
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