Donna and Mark Are Married and File a Joint Return

question 61

Multiple Choice

Donna and Mark are married and file a joint return reporting taxable income of $350,000. Donna owns a qualified S corporation that is not a specified service business. During the year, she incurs qualified business income of
$75,000. Donna's share of wages paid by the business is $20,000. Assuming there is no qualified property factor, calculate her 20% QBI deduction.

• A) $-0-.
• B) $9,750.
• C) $15,000.
• D) $20,000.

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Definitions:

Amphetamines

A class of stimulant drugs that increase energy and alertness but can also lead to addiction and adverse health effects.

Epinephrine

Epinephrine, also known as adrenaline, is a hormone and neurotransmitter involved in regulating heart rate, blood vessel and air passage diameters, and metabolic shifts.

Norepinephrine

A neurotransmitter involved in arousal, alertness, and the fight-or-flight response, influencing mood and blood pressure among other bodily functions.

E-cigarettes

Electronic devices that simulate tobacco smoking by producing an aerosol, often containing nicotine, inhaled by the user.