Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

confused on how to calculate self employment tax on a tax return 1040 for 2017. Schedule C (this is what i have) Gross Income 110,000

confused on how to calculate self employment tax on a tax return 1040 for 2017.

Schedule C (this is what i have)

Gross Income 110,000

Total expenses before expenses for business use of home. Add lines 8 through 27a . 31,400

Tentative profit or (loss). Subtract line 28 from line 7 . . . . . . . . . . . 78,600 (110k-31.4k)

##taxquestion

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: Louwers, Timothy Louwers

5th Edition

0078025443, 978-0078025440

More Books

Students also viewed these Accounting questions