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Item 3 of 4 (10 points) John and Jennifer are a married couple with no dependents. In 2020, they will use the married filing jointly

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Item 3 of 4 (10 points) John and Jennifer are a married couple with no dependents. In 2020, they will use the married filing jointly filing status and report the following information for the tax year: John's salary $ 80,000 Jennifer's Schedule C net profit 100,000 Interest income from corporate bonds 5,000 a) Show your calculation of Jennifer's total self-employment (SE) tax liability related to her Schedule C net profit. I b) Show your calculation of the portion of Jennifer's total self-employment (SE) tax liability you determined above in part (a) that is deductible in determining the amount of John and Jennifer's adjusted gross income (AGI) for the tax year. c) Assuming that Jennifer's Schedule C net profit is considered to be qualified business income under Section 199A, show your calculation of Jennifer's qualified business income deduction that will be claimed on the tax return

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