Frieda has the following income items in 2023: Sole proprietorship income of $200,000 General partnership income of $10,000 Interest income of $50,000 What is the amount of self-employment tax that Frieda owes? (The Social Security wage base for 2023 is $160,200.) A)

Frieda has the following income items in 2023: Sole proprietorship income of $200,000 General partnership income of $10,000 Interest income of $50,000 What is the amount of self-employment tax that Frieda owes? (The Social Security wage base for 2023 is $160,200.) A)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Frieda has the following income items in 2023:

Sole proprietorship income of $200,000

General partnership income of $10,000

Interest income of $50,000

What is the amount of self-employment tax that Frieda owes? (The Social Security wage base for 2023 is $160,200.)

$36,737

$28,259

$19,865

$21,068

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