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. Problem 15-47 Part a (Static) a. What is Sofia's self-employment tax liability? Self-employment tax liability

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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.
Problem 15-47 Part a (Static)
a. What is Sofia's self-employment tax liability?
Self-employment tax liability
Transcribed Image Text: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. Problem 15-47 Part a (Static) a. What is Sofia's self-employment tax liability? Self-employment tax liability
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