Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is $170,000. What are her self-employment tax liability and additional Medicare tax liability for 2021?
Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is $170,000. What are her self-employment tax liability and additional Medicare tax liability for 2021?
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 38P
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Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is $170,000.
What are her self-employment tax liability and additional Medicare tax liability for 2021? (Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)
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