Question
Problem 6 (20 Points; 12 minutes) Shota, who is single with no dependents, has the following for the calendar year 2018: RECEIPTS FOR YEAR Gross
Problem 6 (20 Points; 12 minutes)
Shota, who is single with no dependents, has the following for the calendar year 2018:
RECEIPTS FOR YEAR
Gross income from planning practice $ 106,200
Business expenses for practice 32,100
Interest from Friendly Bank 4,236
EXPENDITURES FOR YEAR
Contribution to Solo(k) retirement plan 1,992
QBI Deduction 14,820
Itemized deductions 11,400
How much is Shotas self-employment tax, adjusted gross income and taxable income?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Dcaa Audits Widespread Problems With Audit Quality Require Significant Reform: Gao 09 1009t
Authors: U. S. Government Accountability Office
1st Edition
1287232027, 978-1287232025
