An Individual in a Specified Service Business, Such as Accounting

question 63

Multiple Choice

An individual in a specified service business, such as accounting, with taxable income over the threshold amounts ($210,700, or $421,400 if married filing jointly in 2019) , will not lose the QBI deduction on such income if:

• A) Taxable income exceeds the thresholds due to income of a spouse.
• B) Taxable income did not exceed the thresholds in the prior three years.
• C) Taxable income exceeds the thresholds because of net capital gain income.
• D) None of these.

---

Definitions:

Porter

A porter typically refers to someone who carries luggage and other loads, especially in a hotel, airport, or railway station.

Institutional Racism

Occurs when organizational policies and practices systematically discriminate against people of some racial group or groups.

Ethnicity

A social category based on common culture, language, ancestry, or other distinguishing features, often used to identify and group individuals.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group.