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 $fill in the blank 1. 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 $fill in the blank 2. 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 $fill in the blank 3.
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 $fill in the blank 1. 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 $fill in the blank 2. 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 $fill in the blank 3.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 $fill in the blank 1.
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 $fill in the blank 2.
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 $fill in the blank 3.
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