Question 63 of 75. Yolanda (41), a freelance photographer, reports a net profit of $50,000 on Schedule C, Profit or Loss from Business. This is her only income. How much is Yolanda's self-employment tax? $3,825 $7,065 $7,650 O $11,000 Question 65 of 75. A self-employed taxpayer may be eligible to deduct amounts paid for medical insurance for themselves and for their families. To claim this deduction, a qualifying taxpayer should: Claim a nonrefundable tax credit based on the cost of the insurance. o Deduct the cost as a business expense on Schedule C. Include the cost as an adjustment to income on Schedule 1 (Form 1040), although certain limitations may apply. Only deduct the amounts paid on Schedule A if they itemize their deductions. Question 66 of 75. All of the following are deductible business expenses reported in Part II of Schedule C, Profit or Loss from Business, EXCEPT: Car and truck expenses. o Contributions to an employee's profit-sharing plan. Expenses relating to business use of the taxpayer's home. Health insurance benefits for employees. Question 67 of 75. Choose the response that accurately completes the following sentence. Gross receipts, reported as income in Part 1 of Schedule C, Profit or Loss from Business, may include: An amount recovered from a bad debt. Amounts reported to the taxpayer on Form 1099-MISC. Income reported to the taxpayer on Form W-2. Proceeds from a loan