Question
16) Grace has $65,000 of self-employment earnings from a sole proprietorship. Grace's self-employment tax for 2020 is A) $9,184. O B) $9.945. O C) $7,771.
16) Grace has $65,000 of self-employment earnings from a sole proprietorship. Grace's self-employment tax for 2020 is A) $9,184. O B) $9.945. O C) $7,771. D) $4,972. QUESTION 19 6) Annalise, who is 28 and single, has adjusted gross income of $60,000, itemized deductions of $5,000 and a lifetime learning credit of $1,000. In 2020, Annalise will have taxable income of A) $46,600. O B) $47,600. C) $55,000. D) $41,350 QUESTION 20 3) Taquin, age 67 and single, paid home mortgage interest of $6,000, charitable contributions of $5,000 and property taxes of $4,000 in 2020. He has no dependents. Taquin will claim a deduction from AGI of A) $14,050. O B) $16,650. O C) $15,000. D) $16,100
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