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Adi and Alexandra are married and file a joint return in 2019. Adi is a partner in a public accounting firm. His share of the
Adi and Alexandra are married and file a joint return in 2019. Adi is a partner in a public accounting firm. His share of the partnership's income in the current year is $48,000, and he receives guaranteed payments of $41,000. Alexandra receives wages of $53,000 from a large corporation. Requirement What is each taxpayer's self-employment tax amount? (Hint: Guaranteed payments received from a partnership are considered self-employment income.) Calculate Adi's self-employment tax and then calculate Alexandra's self-employment tax. (Do not round intermediary calculations. Only round the amount you input in each cell to the nearest dollar. Complete all input fields. Enter a "0" for any zero balances. Abbreviations used: OASDI = old-age, survivors, and disability insurance; HI = hospital insurance [Medicare].) Adi Alexandra SE tax for OASDI SE tax for HI Total SE tax Adi and Alexandra are married and file a joint return in 2019. Adi is a partner in a public accounting firm. His share of the partnership's income in the current year is $48,000, and he receives guaranteed payments of $41,000. Alexandra receives wages of $53,000 from a large corporation. Requirement What is each taxpayer's self-employment tax amount? (Hint: Guaranteed payments received from a partnership are considered self-employment income.) Calculate Adi's self-employment tax and then calculate Alexandra's self-employment tax. (Do not round intermediary calculations. Only round the amount you input in each cell to the nearest dollar. Complete all input fields. Enter a "0" for any zero balances. Abbreviations used: OASDI = old-age, survivors, and disability insurance; HI = hospital insurance [Medicare].) Adi Alexandra SE tax for OASDI SE tax for HI Total SE tax
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