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Jameson has the following sources of income: Sole proprietorship income $40,000 General partnership operating income $5,000 Interest income from general partnership $1,200 What is the
Jameson has the following sources of income:
| Sole proprietorship income | $40,000 |
| General partnership operating income | $5,000 |
| Interest income from general partnership | $1,200 |
What is the amount of self-employment tax Jameson owes? Round your answer to the nearest dollar.
A)
$6,358
B)
$7,069
C)
$6,885
D)
$6,529
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
978-0077639730
