Required information [The following information applies to the questions displayed below.] Eva received $60,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $5,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,400. Based on these facts, answer the following questions: Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.) d. Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your intermediate computations and final answer to the nearest whole dollar amount.)
Required information [The following information applies to the questions displayed below.] Eva received $60,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $5,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,400. Based on these facts, answer the following questions: Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.) d. Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your intermediate computations and final answer to the nearest whole dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![!
Required information
[The following information applies to the questions displayed below.]
Eva received $60,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $5,000 in business
expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single
and she deducts a standard deduction of $12,400. Based on these facts, answer the following questions:
Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.)
d. Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your
intermediate computations and final answer to the nearest whole dollar amount.)
> Answer is complete but not entirely correct.
Regular tax liability
$ 4,446 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb33aa3bf-5bc6-4e08-a39f-5be6ac758557%2F7bb241db-106a-49d8-b032-efb761d368cb%2F2d84wd_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Eva received $60,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $5,000 in business
expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single
and she deducts a standard deduction of $12,400. Based on these facts, answer the following questions:
Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.)
d. Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your
intermediate computations and final answer to the nearest whole dollar amount.)
> Answer is complete but not entirely correct.
Regular tax liability
$ 4,446 X
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