Campbell, a Single Taxpayer, Has $400,000 of Profits (Net of the Deduction

question 66

Multiple Choice

Campbell, a single taxpayer, has $400,000 of profits (net of the deduction for self-employment taxes, the self-employed health insurance deduction, and the deduction for contributions to qualified self-employment retirement plans) 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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