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Kiyara (single) is a 50 percent shareholder of Jazz Corporation (an S Corporation). Kiyara doesn't do any work for Jazz Corp. Jazz Corp. reported $300,000
Kiyara (single) is a 50 percent shareholder of Jazz Corporation (an S Corporation). Kiyara doesn't do any work for Jazz Corp. Jazz Corp. reported $300,000 of business income for the year (2020). Before considering her business income allocation from Jazz Corp. and the self-employment tax deduction (if any), Kiyara's adjusted gross income was $250,000 (all employee salary). Answer the following questions for Kiyara.(Leave no answer blank. Enter zero if applicable.)
What is Kiyara's additional Medicare tax liability (include all earned income)?
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