Question
2. Erin and Andy are married. Erin is a general partner in a successful bakery. Her share of ordinary income was $136,885. Erin also works
2. Erin and Andy are married. Erin is a general partner in a successful bakery. Her share of ordinary income was $136,885. Erin also works part-time for a paper company. Her W-2 reported $36,943 in wages. Andy is a successful executive and his W-2 reported $157,000 in wages.
a. Calculate Erins self-employment tax.
b. Calculate the amount of Additional Medicare Tax that Erin and Andy owe based on their income.
c. Calculate Erin and Andys AGI.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
