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Business, 19.03.2020 09:08 Alreef8468

Pat's taxable income exceeds $157,500 and thus he is required to phase out his QBI deduction. The phase-out calculation is: a. The lesser of 50% of business wages or 25% of wages plus 2.5% of the unadjusted basis of qualifying property b. The greater of 50% of business wages or 25% of wages plus 2.5% of the unadjusted basis of qualifying property c.50% of the amount over $157,500 d.50% of taxable income without the QBI deduction

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