Flag question: Question 227

Question 2271 pts

In 2021, Gracie's net earnings from self-employment is $50,000. How much self-employment tax does she owe?

Group of answer choices

$0

$9,650

$7,065

$12,144

Flag question: Question 228

Question 2281 pts

In 2021, Gracie's net earnings from self-employment is $50,000. How much of a deduction can Gracie take for self-employment tax?

Group of answer choices

$3,532

$2,825

$0

$5,000

Flag question: Question 229

Question 2291 pts

In 2021, Gracie is entitled to a self-employment tax deduction of $1,000. Which of the following is true in regards to the self-employment tax deduction on the Federal Income Tax Return?

Group of answer choices

It is a miscellaneous itemized deduction recorded on Schedule A.

It is a business expense recorded on Schedule C.

It is an adjustment to income to arrive at Adjusted Gross Income and record on Schedule 1.

It is a miscellaneous itemized deduction that has been suspended from 2018 through 2025.