Business, 20.03.2020 04:52 icantspeakengles

Bertha, a single individual, reports taxable income of $177,500, of which $130,000 is attributable to an S corporation that provides consulting services, after paying wages of $72,000 to employees (but not to Bertha). The entity made no acquisitions of depreciable property during the year. Calculate any 20% qualified business income deduction. Note: The deduction is limited for certain specified service-type S corporations where taxable income exceeds $157,500 for single individual. The phase-out range is $50,000 for individuals. Bertha's qualified business income deduction is $ 14,200

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Bertha, a single individual, reports taxable income of $177,500, of which $130,000 is attributable t...

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