What is the amount of qualified business deduction, Accounting Basics

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What is the amount of qualified business deduction

Question: Jimmy McNulty owns Orlando's, a downtown furniture store, which is an S-Corporation. Business Income $60,000 Capital Gains $50,000 Income from S corporation $80,000 Taxable Income $190,000 What is the amount of qualified business deduction that Jimmy and his wife can claim if he is planning to claim the standard deduction?

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Accounting Basics: What is the amount of qualified business deduction

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