Qualified business income (qbi) deduction (lo 4.10)rob operates a small plumbing supplies business as a sole proprietor. in 2018, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. the business sold some land that had been held for investment generating a long-term capital gain of $15,000. the business has $300,000 of qualified business property in 2018. rob's wife, marie, has wage income of $250,000. they jointly sold stocks in 2018 and generated a long-term capital gain of $13,000. rob and marie have no dependents and in 2018, they take the standard deduction of $24,000.the income threshold for qbi limitations starts at $315,000 for married filing jointly taxpayers. a. what is rob and marie's taxable income before the qbi deduction? $b. what is rob and marie's qbi? $154,000what is rob and marie's qbi deduction? $** give explanation and not just the answer. you! **

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."