Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2023. The business has no tangible property and paid no W-2 wages. Required: a. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $125,000. b. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000. Complete this question by entering your answers in the tabs below. Required A Required B Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000. Note: Round your intermediate computations and final answer to the nearest whole dollar value. QBI deduction < Required A Required B >
Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2023. The business has no tangible property and paid no W-2 wages. Required: a. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $125,000. b. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000. Complete this question by entering your answers in the tabs below. Required A Required B Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000. Note: Round your intermediate computations and final answer to the nearest whole dollar value. QBI deduction < Required A Required B >
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 34P
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Transcribed Image Text:Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2023. The business has
no tangible property and paid no W-2 wages.
Required:
a. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $125,000.
b. Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Compute Evan's QBI deduction, assuming his overall taxable income before QBI is $185,000.
Note: Round your intermediate computations and final answer to the nearest whole dollar value.
QBI deduction
< Required A
Required B >
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