Required information [The following information applies to the questions displayed below.) Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive. Beehive LLC reported $600,000 of taxable business income for the year (2023). Before considering her 50 percent business income allocation from Beehive and the self-employment tax deduction (if any). Sofia's adjusted gross income is $150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia. Note: Leave no answer blank. Enter zero if applicable. What is Sofia's net investment income tax liability (assume no investment expenses)? Income tax liability $
Required information [The following information applies to the questions displayed below.) Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive. Beehive LLC reported $600,000 of taxable business income for the year (2023). Before considering her 50 percent business income allocation from Beehive and the self-employment tax deduction (if any). Sofia's adjusted gross income is $150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia. Note: Leave no answer blank. Enter zero if applicable. What is Sofia's net investment income tax liability (assume no investment expenses)? Income tax liability $
Chapter6: Business Expenses
Section: Chapter Questions
Problem 60P
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![Required information
[The following information applies to the questions displayed below.]
Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive.
Beehive LLC reported $600,000 of taxable business income for the year (2023). Before considering her 50 percent
business income allocation from Beehive and the self-employment tax deduction (if any). Sofia's adjusted gross income is
$150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia.
Note: Leave no answer blank. Enter zero if applicable.
c. What is Sofia's net investment income tax liability (assume no investment expenses)?
Income tax liability
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7cd338bb-3738-4289-b54a-3b7b8416cf99%2F8c5d99ef-b73b-4246-8550-12d21164a2be%2F04f1qnv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive.
Beehive LLC reported $600,000 of taxable business income for the year (2023). Before considering her 50 percent
business income allocation from Beehive and the self-employment tax deduction (if any). Sofia's adjusted gross income is
$150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia.
Note: Leave no answer blank. Enter zero if applicable.
c. What is Sofia's net investment income tax liability (assume no investment expenses)?
Income tax liability
$
0
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