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Questions and Answers
What is Nasir's total taxable income after the QBI deduction is applied?
What is Nasir's total taxable income after the QBI deduction is applied?
- $235,000
- $193,000
- $183,000 (correct)
- $175,000
If Nasir had engaged in an SSTB, how would it have affected his QBI deduction?
If Nasir had engaged in an SSTB, how would it have affected his QBI deduction?
- Turned the QBI deduction to zero (correct)
- Not affected the QBI deduction
- Decreased the QBI deduction
- Increased the QBI deduction
What impact would capital gains have had on Nasir's QBI deduction?
What impact would capital gains have had on Nasir's QBI deduction?
- Decreased the QBI deduction
- Increased the QBI deduction
- Not affected the QBI deduction
- Turned the QBI deduction to zero (correct)
What role do Form W-2 wages play in determining Nasir's QBI deduction?
What role do Form W-2 wages play in determining Nasir's QBI deduction?
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If Nasir's QBI had been $90,000 instead of $60,000, what effect would it have had on his taxable income after the deduction?
If Nasir's QBI had been $90,000 instead of $60,000, what effect would it have had on his taxable income after the deduction?
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