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Ch 14 HW 2 1.11 3 Ms. Timmons, an unmarried individual, has the following income items: Schedule C net profit Salary points NOL carryforward
Ch 14 HW 2 1.11 3 Ms. Timmons, an unmarried individual, has the following income items: Schedule C net profit Salary points NOL carryforward deduction Interest income $ 31,900 55,120 (9,190) 725 Check my work eBook Print Ms. Timmons's self-employment tax was $4,507. She had $6,270 in itemized deductions and one dependent child (age 9) who lives in her home. Ms. Timmons's Schedule C net business profit is qualified business income (non- service). References Required: Compute Ms. Timmons's income tax (before credits). Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) AGI Taxable Income Income tax Amount
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