Question: thad a single taxpayer has taxable income before the qbi...
Thad, a single taxpayer, has taxable income before the QBI deduction of $188,000. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $150,400, W–2 wages of $112,800, and $12,000 of qualified property.
If required, round any division to two decimal places. Round your final answer to the nearest dollar.
What is Thad's qualified business income deduction?