For 2020, Roberta is a self-employed truck driver with earnings of $48,728 from her business. During the
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For 2020, Roberta is a self-employed truck driver with earnings of $48,728 from her business. During the year, Roberta received $2,500 in interest income and dividends of $500. She also sold investment property and recognized a $1,500 gain. What is the amount of Roberta’s self-employment tax (Social Security and Medicare taxes) liability for 2020?
a. $7,304
b. $6,641
c. $6,358
d. $6,885
e. $7,455
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Related Book For
Income Tax Fundamentals 2021
ISBN: 9780357141366
39th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
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