This is the third time email for same question. I received the answer for exercse 12-19 (LO.7) twice, but it's incorrect. Would you please send me the correct answer for question c? 1. Incorrect answer: Simon investment $38,000 x medical tax rare 0.9%= $342 2. Incorrect answer: Simon investment $38,000 + $223,000 = $261,000 - $200,000 = $61,000 x medical tax rare 0.9%= $549 ----------------------------------------------------------------------------- Exercise 12-19 (LO. 7) Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. 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.
This is the third time email for same question.
I received the answer for exercse 12-19 (LO.7) twice, but it's incorrect.
Would you please send me the correct answer for question c?
1. Incorrect answer: Simon investment $38,000 x medical tax rare 0.9%= $342
2. Incorrect answer: Simon investment $38,000 + $223,000 = $261,000 - $200,000 = $61,000 x medical tax rare 0.9%= $549
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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.
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.
Additional Medicare tax: Additional Medicare Tax is one of the U.S. government's Payroll withholding taxes that is paid solely by employees and the self-employed. In other words, the employer does not match the Additional Medicare Tax.
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