Dara,a Single Taxpayer,is a 50% Partner in a CPA Partnership

question 122

Multiple Choice

Dara,a single taxpayer,is a 50% partner in a CPA partnership.The partnership reports $500,000 of ordinary business income and no separately stated items in 2019.Dara also has $30,000 of taxable interest income and $25,000 of itemized deductions.Dara will be allowed a qualified business income deduction of

• A)$100,000.
• B)$50,000.
• C)$51,000.
• D)$0.

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Definitions:

Insurance Agents

Professionals who sell, solicit, and negotiate insurance policies on behalf of insurers, providing advice to buyers and managing the policy.

Proper Coverage

Adequate insurance protection or the extent to which insurance policies meet the insured's needs.

Clients' Losses

Refers to financial, physical, or reputational damage suffered by clients, possibly due to professional negligence or adverse market movements.

Surgeon Negligence

A failure by a surgeon to meet the standard of care expected in their profession, often leading to harm or injury to the patient.