Jay 30 percent partner in the Closet Partnership. In 2019, Closet paid W-2 wages of $24,000 and held qualified property of $600,000. In 2019, Jay's QBI deduction is subject to the wage limitation due...


Jay 30 percent partner in the Closet Partnership. In 2019, Closet paid W-2 wages of $24,000 and held qualified property of $600,000. In 2019, Jay's QBI deduction is subject to the wage limitation due to his income. If Closet allocates wages and qualified property in the same manner as income (based on percentage ownership), what is Jay's wage and qualified property limit on the QBI deduction?



Jun 03, 2022
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