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Required information [The following information applies to the questions displayed below.] Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason
Required information [The following information applies to the questions displayed below.] Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $187,500 salary working full time for Angels Corporation. Angels Corporation reported $430,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason's adjusted gross income is $187,500 (all salary from Angels Corporation). Mason claims $65,000 in itemized deductions. Answer the following questions for Mason. Note: Leave no answer blank. Enter zero if applicable. d. Assuming the original facts, what is Mason's net investment income tax liability (assume no investment expenses)? Income tax liability
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