Richard Norton is required to pay a self-employment tax based on the net profits of his farm business. For purposes of this tab (Self-Employment Tax), assume that Richard had a net profit of $123,000 from the farm business for Year 3 and $10,000 of Section 1231 gain.

Complete Section A of the Form 1040, Schedule SE, for Year 3 below by entering the appropriate values in the designated cells. Round answers to the dollar. If the value of a cell is zero or if the cell should be left blank, you must enter a zero (0) to receive credit for your answer.

2020 Form 1040 Schedule SE Section A item (description)	Amount
1. Net farm profit/loss (Line 1a)
2. Net profit/loss [Sch C] (Line 2)
Combined net profit from self-employment 123,000 + 10,000
4. Net earnings from self-employment (Line 4)
5. Self-employment tax (Line 5)
6. AGI adjustment deduction for SE tax (Line 6)