acct 387 ch 15 q 6789

Required information Problem 15-48 (LO 15-3) (Static) [The following information applies to the questions displayed below] Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and recelves guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year (2023). Before considering his 50 percent business income aliocation 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: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar. Problem 15-48 Part a (Static) a. Whot is Omar's self-employment tax liability? b. What would be Omar's self-employment tax liability if he didn't receive any salary? c. Assume the original facts and that the business income allocated to Omar is not from a specified service. What is Omar's deduction for qualified business income? Assume that 81.82 percent of the self-employment tax is from self-employment income included in QBI [i.e., $225,000 business income allocation $275,000 (business income allocation plus guaranteed payment)). That is, the $50,000 guaranteed payment is not qualified business income. Ignore the wage-based limitation. d. What is Omar's net investment income tax liability (assume no investment expenses)