Benefits Summary and Analysis Planning Sheet Grading

(3,886) $50,793 × 7.65= $3,886 (5) AGI $51,114 (3) + (4) (6) Standard deduction (12,000) (7) 20 percent deduction for qualified business income (7,823) Lesser of: (a) 20% of qualified business income [(20% x (3) = $55,000 x 20% = $11,000)] or (b) 20% of taxable income before qualified business income deduction [20% x ($51,114 - $12,000 ... ................
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