Answered step by step
Verified Expert Solution
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started