Campbell a single taxpayer, has $400,000 of profits from her general store that she operates as a sole proprietorship. she has $100,000 of employee wages, $40,000 of qualified property, and $500,000 of taxable income before the deduction for qualified business income. how much is campbell's deduction for qualified business income?

a) $80,000

b)$0

c) $100,000

d) 26,000

e) $50,000

A) $80,000

Explanation:

According to the Internal Revenue Service (IRS), the deduction would be claim as a lower value of 20% qualified business income plus 20% of real investment or 20% of taxable income less net capital gains

So, 20% qualified business income = $400,000 × 20% = $80,000

And, the 20% of taxable income = $500,000 × 20% = $100,000

So, the lower value would be $80,000

c

explanation:

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