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Problem 6-19 (Algorithmic) Special Taxes for High-Income Taxpayers (LO 6.7) Married taxpayers Otto and Ruth are both self-employed. Otto earns $430,000 of self-employment income
Problem 6-19 (Algorithmic) Special Taxes for High-Income Taxpayers (LO 6.7) Married taxpayers Otto and Ruth are both self-employed. Otto earns $430,000 of self-employment income and Ruth has a self-employment loss of $60,700. How much 0.9 percent Medicare tax for high-income taxpayers will Otto and Ruth have to pay with their 2022 income tax return? If required, round your final answer to nearest dollar.
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