Which of the Following Taxpayers Is Potentially Eligible for a Qualified

question 19

Short Answer

Which of the following taxpayers is potentially eligible for a qualified business income deduction based on the noted activity? (circle all that apply)
a. A shareholder of General Electric.
b. A sole proprietor operating a restaurant.
c. A self-employed doctor.
d. Jennifer, owner of a winery operated as an S corporation.
e. The Red Cross (a charitable organization).

---

Definitions:

Income Distribution

The process of dividing and allocating income earned by a business to its stakeholders or investment products.

Personal Use

Personal use refers to the use of an asset or service for individual rather than business or commercial purposes.

Interest Attributed

The portion of interest income or expense assigned to a specific entity, often used in the context of loans or investments.

Capital Contributions

Funds or other assets contributed to a corporation or partnership by its owners or partners to support the organization's operations or to increase its equity.