Question
1.Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $456,000 of self-employment income and Ruth has a self-employment loss
1.Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $456,000 of self-employment income and Ruth has a self-employment loss of $36,700.
How much 0.9 percent Medicare tax for high income taxpayers will Otto and Ruth have to pay with their 2019 income tax return?
2.Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $352,000 of self-employment income and Ruth has a self-employment loss of $13,500.
How much 0.9 percent Medicare tax for high income taxpayers will Otto and Ruth have to pay with their 2019 income tax return?
3)Rachel is single and has wages of $179,150 and dividend income of $107,490. She has no investment expenses.
Calculate the amount of the 3.8 percent net investment income tax she must pay.Round your answer to the nearest whole dollar.
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