Determine Cassi’s self-employment income and QBI deduction
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Determine Cassi’s self-employment income and QBI deduction

Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2018:


Determine Cassi’s self-employment income and QBI deduction. Prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§ 179 was not taken on assets purchased last year). (Use Table 6A-1)

(Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar.)


Hint
Accounts and FinanceQBI means qualified business income. This deduction allows for the self-employed or people in small businesses that are eligible to deduct up to twenty percent of their business income that is qualified on their taxes. This deduction is calculated by netting the qualified income from qualified businesses....

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