Arnie and Angela are married and file a joint return in 2016. Arnie is a partner in

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Arnie and Angela are married and file a joint return in 2016. Arnie is a partner in a public accounting firm. His share of the partnership’s income in the current year is $40,000, and he receives guaranteed payments of $35,000. Angela receives wages of $50,000 from a large corporation. What is each taxpayer’s self-employment tax amount?

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Federal Taxation 2017 Individuals

ISBN: 9780134420868

30th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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