Campbell, a Single Taxpayer, Has $400,000 of Profits from Her

question 32

Multiple Choice

Campbell, a single taxpayer, has $400,000 of profits from her general store, which she operates as a sole proprietorship.She has no employees, $40,000 of qualified property, and $500,000 of taxable income before the deduction for qualified business income.How much is Campbell's deduction for qualified business income?

• A)$100,000.
• B)$80,000.
• C)$20,000.
• D)$1,000.
• E)$0.

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Definitions:

Confidential Information

Any information that is not public knowledge and that is obtained from a source under circumstances that create an obligation to keep it confidential.

MBA Class

A course or series of courses part of a Master of Business Administration program, aimed at providing advanced education in business management and operations.

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields.

Commercial World

The realm of business and trade, encompassing activities, interests, and the community involved in the exchange of goods and services.