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Business, 26.10.2019 04:43 brianna8739

Katie, a single taxpayer, is a shareholder in engineers one, a civil engineering company. this year, katie’s share of net business income from engineers one is $200,000 (net of the associated for agi self-employment tax deduction). assume that katie’s allocation of wages paid by engineers one to its employees is $300,000 and her allocation of engineers one’s qualified property is $150,000 (unadjusted basis of equipment, all purchased within the past three years). assume katie has no other business income and no capital gains or qualified dividends. her taxable income before the deduction for qualified business income is $400,000. required: a. calculate katie's deductions for qualified business income.

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Katie, a single taxpayer, is a shareholder in engineers one, a civil engineering company. this year,...
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