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Charitable Contribution Carryovers. Bonnie’s charitable
contributions and AGI for the four-year period are as follows:
What is the amount of the charitable deduction for each year
and the order in which the deduction and carryovers are used?

Qualified Business Income Deduction. The LM Partnership has
two equa l partners, Liam and Martin. In the current year, the partnership
earns $400,000 of ordinary income (all business) and recognizes a $15,000
long-term capital gain. Liam is married, files a joint return, and claims a
standard deduction. Other than partnership items, Liam has only a $6,000
short-term capital loss at the individual level. What is Liam’s taxable income?

Qualified Business Income Deduction. Cathy is a 50% partner
in the CD partnership, which owns a small manufacturing business. In the
current year, the business had qualified business income of $2.8 million. CD
partnership paid W-2 wages of $900,000 and owns depreciable tangible property
with an unadjusted basis of $1,600,000. What is Carrie’s qualified business
deduction (ignoring the ½ deduction for self-employment taxes)?

Qualified Business Income Deduction. During the current
year, Marilyn earned $115,000 as an accounting consultant.
a. If she has no other income besides a $20,000 capital
gain, how much can she claim as a QBI deduction (please ignore the 50%
self-employment tax deduction)?
b. If she is married and files jointl y with her husband,
who makes $600,000 a year as an attorney, how much can she claim as a QBI
deduction?