medium · Certified Financial Planner Tax Planning
Novak owns a manufacturing S corporation (non-service) that generates $300,000 of qualified business income (QBI). Novak's taxable income is well above the phase-out threshold. If the business pays $70,000 in W-2 wages and has no qualified property
What is Novak's Section 199A deduction?
- $17,500
- $35,000
- $0
- $60,000
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