Mrs. Singer owns a profitable sole proprietorship. For each of the following cases, use a Schedule SE, Form 1040, to compute her 2020 self-employment tax and her income tax deduction for such tax. Required: a. Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458. She had no other earned income. b. Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458, and she received a $100,000 salary from an employer. c. Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458, and she received a $145,000 salary from an employer. Schedule SE Part a Schedule St Schedule SE Part b Part c Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458. She had no other earned Income. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar value. Input all the values as positive numbers.) SCHEDULE SE (Form 1040) Department of the Treasury Self-Employment Tax ON 1545-0074 Go to www.irs.gov ScheduleSE for Instructions and the latest informati 2020 Internal Revenue Service (39) Altach to Form 1040, 1040 SR, or 1040-R Name of person with self-employment income (as shown on Form 1040, 1040-5 or 1040 NR) Social security number of person Part I Self-Employment Tax Note: If your only income supect to sef employment las is church employee income, se intructions or how report your income and the defiion of church employee income A if you are a master, member of a religious order, or Christian Science practitioner and you fed Form 4361, but you had $400 or one of other net earnings from self-employment, check here and continue with Part Skip lines to and to you use the farm optional method in Part See instructions ta Net farm profit or loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065 box 14, code A b if you received social security retirement or disability benatts, enter the amount of Conservation Reserve Program payments included onSchedule F, line 4b, or beted on Schedule K-1 (Form 10653 box 20 Skip Ine 2 if you use the nontarm optional method in Part I See instructions 2 Net profit or pose) bom Schedule C. ane 31; and Schedule K-1 (Form 1060), box 14, code A (other than tamming See instructions for other income to report or if you are a minister or member of a religious 3 Combine Ines 1a, 1b, and 2 4 in 3 more than zero, multiply ine 3 by 52 35% (0 92351 Otherwise, enter amount tomine 3 b if you elect one or both of the optional methods, enter the total of Ines 15 and 17 he fa 1b. 2 3 4a Note: If ane 4a is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions 4b c Combine lines 40 and 4b if less than $400. stop; you don't owe self-employment tax Exception: if less than $400 and you had church employee income, enter-0- and continue 4c Sa Enter your church employee income from Form W-2 See instructions for definition of church employee income b Multiply line 5s by 92.35% 10.9235) If less than $100, enter-o Add lines 4 and 5b 5a 50 6 5b 6 7 137,700 * THE RUME UP (1065) from schedule C, line 31, and Schedule K-1 (Form 1065), box 14, code A (other than farming) See instructions for other income to report or if you are a minister or member of a religious order 3 Combine lines 1a, 1b, and 21 4a if line 3 is more than zero, multiply line 3 by 92.35% (0.9235) Otherwise, enter amount from line 3 Note: If line 4a is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions b If you elect one or both of the optional methods, enter the total of lines 15 and 17 here e Combine lines 4a and 4b. If less than $400, stop: you don't owe self-employment tax Exception: If less than $400 and you had church employee Income, enter -0- and continue Sa Enter your church employee income from Form W-2. See instructions for definition of church employee income b Multiply line 5a by 12.36% (0.9235). If less than $100, enter-0- 6 Add Ines 4c and 56 7 Maximum amount of combined wages and self-employment eamings subject to social security tax or the 6.2% portion of the 7.00% railroad retirement (ber 1) tax for 2020 Ba Total social security wages and tips (total of boxes 3 and 7 on Form(s) W-2) and railroad retirement (tier 1) compensation. If $137,700 or more, skip lines 8b through 10, and go to line 11 b Unreported tipe subject to social security tax from Form 4137, line 101 c Wages subject to social security tax from Form 8919, Ine 10 d Add lines Ba, 80, and 8c 9 Subtract line 8d from line 7. If zero or less, enter -0- here and on fine 10 and go to line 11 10 Multiply the smaller of line 6 or line 9 by 12.4% (0.124) 11 Multiply line 6 by 2.9% (0.029) 12 Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 13 Deduction for one-half of self-employment tax. 2 3 4a 4b 4c 8a 8b 8c 8d 9 10 11 12 13 Schedule SE (Form 1040) 2020 Multiply line 12 by 50% (0.50) Enter here and on Schedule 1 (Form 1040), line 14 For Paperwork Reduction Act Notice, see your tax return instructions. Cat No. 113562 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education 10 points Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458, and she received a $100,000 salary from an employer. (Round your intermediate computations and final answers to the nearest whole dillar value. Input all the vale as positive numbers.) SCHEDULE SE (Form 1040) Department of the Treasury Internal Havinue Service Self-Employment Tax Go to www.irs.govichechiles for instructions and the latest information 2020 Attach to Form 1040. 1040-5 ar 1040 ellook References Name of person with set employment income (as shown on Form 1040, 1040-5 or 1040 M Social erify number of per Part I Self-Employment Tax Note: If your only income subject to self-employment taxxis church employee income, ste iniustem for how to report your nome and the debbon of church proye Income A you are a monster, member of a rigour order, or Christian Sonce practioner and you fed Form 43 you $400 or more of other not eangs hom set-employment, check here and contras with Part Skolines 1a and 1b if you use the farm optional method in Part I Sections 1a Net farm profit or (os) from Schedule F. Ine 34, and farm partnerups, Schede K-1 (Form 10651, box 14.coA bif you received social city reement or disabety benetts, enter the amount of Conservation Reserve Programs included onSchedule F, ne do, or isled on Schedule K-1 (Form 1060) box 20, code A Skip line 2 if you use the nontam optional method in Part I, See instructions 2 Net profit or dose) from Schedule C, ane 31; and Schedule K-1 (Form 1065), box 14, code A (other than See instructions for other income to report or if you are a mester or member of a religious order 3 Combine snos fa, 1b, and 2 4a if line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise enter amount from line 3 Note: If line de less than $400 due to Conservenon Reserve Program payments on line 1b, see im If you alect one or both of the optional methods, enter the tots of ines 15 and 17 here c Combine ines 4a and 4b. If less than $400, stop; you don't own self employment tax. Exception: Fiss than $400 and you had church employee income, eter 0 and continue Sa Enter your church employee Inceme from Form W-2. See instructore for definition of church employee income b Multiply Ine 5a by 92.35% (0 9230) If less than $100, enter-0 6 Add lines 40 and 5b. 7 Maximum amount of combined wages and self-employment eamings subject to social secunty tax or the 52% portion of the 7.65% railroad retirement (tier 1) tax for 2020 8a Total social security wages and sps (total of boxes 3 and 7 on Forms) W-2) 1a 1b 2 3 45 4b 4c 5b 6 7 137,700 uctions for other income to report or if you are a minister or member of a religious order 3 Combine lines 1a, 1b, and 2 4a If line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise, enter amount from line 3 Note: If line 4a is less than $400 due to Conservation Reserve Program payments on line tb, see instructions b If you elect one or both of the optional methods, enter the total of lines 15 and 17 here c Combine Ines 4a and 4b. If less than $400, stop; you don't owe self-employment tax. Exception: If less than $400 and you had church employee income, enter-0- and continue Sa Enter your church employee income from Form W-2. See instructions for definition of church employee income b Multiply line 5a by 92.35% (0.9235) If less than $100, enter-0. 6 Add Ines 4c and 5b Sa 2 3 4a 4b 4c 5b 6 7 137,700 7 Maximum amount of combined wages and self-employment earnings subject to socal security tax or the 6.2% portion of the 7.60% rairoad retrement (ber 1) tax for 2020 Ba Total social security wages and tips (otal of boxes 3 and 7 on Form(s) W-2) and railroad retirement (ber 1) compensation. If $137.700 or more, skip lines ab through 10, and go to line 11 b Unreported tips subject to social security tax from Form 4137, line 10 c Wages subject to social security tax from Fom 8919, line 10 d Add lines da, 8b, and Sc 9 Subtract line 8d from line 7. If zero or less, enter -0- here and on line 10 and go to line 11 10 Multiply the smaller of Ine 6 or line 9 by 12.4% (0.124) 11 Multiply line 6 by 2.9% (0.029) Ba 8b 8c 8d 9 10 11 12 12 Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 13 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040), line 14 For Paperwork Reduction Act Notice, see your tax return instructions 13 Cat. No. 113582 Schedule SE (Form 1040) 2020 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF, DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education. Schedule SE Part a Schedule SE Schedule SE Part b Part c SCHEDULE SE (Form 1040) Compute 2020 self-employment tax and the income tax deduction for such tax if Mrs. Singer's net profit from Schedule C was $51,458, and she received a $145,000 salary from an employer. (Round your intermediate computations and final answers to the nearest whole dollar value. Input all the values as positive numbers.) Self-Employment Tax OMB No. 1545-0074 Department of the Treasury Internal Revenue Service (99) Go to www.irs.gov/ScheduleSE for instructions and the latest information. Attach to Form 1040, 1040-5R, or 1040-NR 2020 Attachment Sequence No. 17 Name of person with self-employment income (as shown on Form 1040, 1040-SR, or 1040-NR) Social security number of person with self-employment income Part I Self-Employment Tax Note: If your only income subject to self-employment tax is church employee income, see instructions for how to report your income and the definition of church employee A If you are a minister, member of a religious order, or Christian Science practitioner and you fled Form 4361; but you had $400 or more of other net earnings from self-employment, check here and continue with Part 1 Skip lines 1a and 1b if you use the farm optional method in Part II. See instructions 1a Net farm profit or (loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065). box 14, code A b if you received social security retirement or disability benefits, enter the amount of Conservation Reserve Program payments included onSchedule F, line 4b, or listed on Schedule K-1 (Form 1065), box 20, code AH Skip line 2 if you use the nonfarm optional method in Part II. See instructions 2 Net profit or (loss) from Schedule C, line 31; and Schedule K-1 (Form 1065). box 14, code A (other than farming) See instructions for other income to report or if you are a minister or member of a religious order 3 Combine lines 1a, 1b, and 2 4a if line 3 is more than zero, multiply line 3 by 92.35% (0.9235) Otherwise, enter amount from line 3 Note: If line 40 is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions b if you elect one or both of the optional methods, enter the total of lines 15 and 17 here c Combine lines 4a and 4b. If less than $400, stop; you don't owe self-employment tax Exception: If less than $400 and you had church employee income, enter-0- and continue 5a Enter your church employee income from Form W-2 See instructions for definition of 5a 1a 1b 2 3 4a 45 4c church employee income b Multiply line 5a by 92.35% (0.9235). If less than $100. enter-0- 5b 6 6 Add lines 4c and 5b 7 Maximum amount of combined wages and self-employment earnings subject to social security tax or the 6.2% portion of the 7.65% 7 137.700 Check my w t prot or doss) from Schedule C, line 31; and Schedule K-1 (Form 1065 box 14, code A jother than farming See instructions for other income to report or if you are a minister or member of a religious order 3 Combine lines ta, 1b, and 2 4a if line 3 is more than zero, multiply line 3 by 92.35% (0.9235) Otherwise, enter amount tom line 3 Note: If ine 4a is less than $400 due to Conservation Reserve Program payments on line 10. see instructions b if you elect one or both of the optional methods, enter the total of lines 15 and 17 here c Combine lines 4a and 4b. If less than $400, stop; you don't owe self-employment tax Exception: If less than $400 and you had church employee income, enter -0- and continue Sa Enter your church employee income from Form W-2. See instructions for definition of church employee income b Multiply Ine 5a by 92.35% (0.9235) If less than $100, enter-0- ces 6 Add lines 4c and So 5a 2 3 4a 4b 4c 5b 6 7 137,700 7 Maximum amount of combined wages and self-employment eamings subject to social security tax or the 6.2% portion of the 7.65% railroad retirement (ier 1) tax for 2020 Ba Total social secunty wages and tips (lotal of boxes 3 and 7 on Formis) W-2) and railroad retirement (ter 1) compensation if $137,700 or more, skip lines 8b through 10, and go to line 11 b Unreported tips subject to social security tax from Form 4137, 10 c Wages subject to social security tax from Form 0919, line 10 d Add lines 8a, 80, and Sc 9 Subtract Sine Bd from line 7. If zero or less, enter -0- here and on line 10 and go to line 11 10 Multiply the smaller of line 6 or line 9 by 12.4% (0.124) 11 Multiply line 6 by 2.9% (0.029) 12 Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 13 Deduction for one-half of self-employment tax. 8b 8c 8d 9 10 11 12 Multiply line 12 by 50% (0.50) Enter here and on Schedule 1 (Form 1040), line 14 For Paperwork Reduction Act Notice, see your tax return instructions 13 Cat. No. 113562 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF, DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education Schedule SE (Form 1040) 2020