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Business, 01.04.2021 17:50 destineyburger2

Michelle is a 50% shareholder in an S corporation. In the current year, she is reporting $20,000 of salary, $1,000 of interest income, $40,000 of qualified business income from the S corporation and $15,000 of long-term capital gain. Michelle's taxable income before the qualified business income deduction is $50,000. Michelle will be allowed a QBI deduction of

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Michelle is a 50% shareholder in an S corporation. In the current year, she is reporting $20,000 of...
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