2023*

Problem 15-48 (LO 15-3) (Static) [The following information applies to the questions displayed below] Omar (single) is a 50 percent vner in Cougar LLC (taxed as a partnership). Omat works haif time for Cougar and recelves guaranteed payment or $50.000. Cougar Lic reported $450.000 of business income for the year (2023). Before considerina his 50 percent business income allocation from Cougar and the self-employment tax deduction if any! Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougat and $180,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omar. Note: Leove no onswer blonk. Enter zero lf applicable. Round your intermedlate calculations and final answers to the nearest whole dollat. Problem 15-48 Part b (Static) b. What would be Omar's self-employment tax liablity if he didn't receive any salary? Problem 15-48 (LO 15-3) (Static) The following information applies to the questions displayed below] Omar (single) is a 50 percent nner in Cougar LLC (taxed as a partnership). Omar works haif time for Cougac and receives guaranteed payment of $50.000. Cougar LiC reported $450,000 of business income for the year (2023). Before considering his 50 percent business income allocation from cougar and the selfemployment tax dectuction (if any). Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougar and $180,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omat: Note: Leove no onswer blonk. Enter zero If opplicable, Round your Intermedlate calculations and final answers to the nearest whole dollor. Problem 15-48 Part c (Static) c. Assume the original facts and that the business income allocated to Omar is not from o specified service. What is Omar's deduction for qualified busintess income? Assume that 81.82 percent of the selfempioyment tox is from self-employment income included in GeI fie., $225,000 business Income allocation $275.000 (business income allocation plus guaranteed payment) That if, the $50,000 guaranteed payment is not qualified business income ignore the wage based limitation