Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a. Mario, who is single, earns wages of $440,000. His additional Medicare tax is 2,160 b. George and Shirley are married and file a joint return. During the year, George earns wages of $138,000, and Shirley earns wages of $210,000. Their additional Medicare tax is 882 c. Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer. Simon's additional Medicare tax is 207 X

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Chapter1: Financial Statements And Business Decisions
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Exercise 12-19 (LO. 7)
Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar.
<
a. Mario, who is single, earns wages of $440,000.
His additional Medicare tax is s
2,160 ✔
b. George and Shirley are married and file a joint return. During the year, George earns wages of $138,000, and Shirley earns wages of
$210,000.
Their additional Medicare tax is
c. Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer.
Simon's additional Medicare tax is
207 X
Feedback
882
Check My Work
The Affordable Care Act of 2010 and the Health Care Reconciliation Act of 2010 include two provisions that result in increased Medicare
taxes for high-income individuals.
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150 P
Transcribed Image Text:Exercise 12-19 (LO. 7) Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. < a. Mario, who is single, earns wages of $440,000. His additional Medicare tax is s 2,160 ✔ b. George and Shirley are married and file a joint return. During the year, George earns wages of $138,000, and Shirley earns wages of $210,000. Their additional Medicare tax is c. Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer. Simon's additional Medicare tax is 207 X Feedback 882 Check My Work The Affordable Care Act of 2010 and the Health Care Reconciliation Act of 2010 include two provisions that result in increased Medicare taxes for high-income individuals. Check My Work Previous Next > 150 P
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