Question 21 (4.1 points) Saved Which of the following schedules would be used to report a self-employed person's Social Security and Medicare tax due (Formula: Net Income x.9235 x .153)? Schedule A Schedule E Schedule SE Schedule B Question 22 (3.1 points) Saved Using the MACRS half-year convention depreciation table, calculate the second year of depreciation on machinery with a 7-year life, placed into service in your trade or business, on 1/1/2018 at a cost of $117,000 $28,653 $0 $117,000 $16,719 Question 23 (3.1 points) Saved Which of the following depreciation conventions are required when a business purchases greater than forty percent of its depreciable assets in the fourth quarter of its tax year? Mid-quarter convention Fourth quarter convention Half-year convention None of the above. There is not such convention Question 24 (3.1 points) Saved Married Filing Joint (MFJ) taxpayers who combine to earn greater than $250,000 in compensation from working, pay an additional Medicare tax. The percentage is .9% 3.8% 92.35% 15.3% Question 20 (3.1 points) Saved Net Long-term or Net Short-term capital losses (NLTCL or NSTCL) have a an annual deduction limitation, and a carryforward to future years. The carryforward can be used to offset future capital gains. The annual limit a taxpayer may claim is? O($2,500) O ($3,000) ($2,000) ($3,500)