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undefined Homework: MAL#6 Save Score: 0 of 1 pt 2 of 5 (1 complete) HW Score: 16.67%, 1 of 6... PI:14-44 (similar to) Question Help
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Homework: MAL#6 Save Score: 0 of 1 pt 2 of 5 (1 complete) HW Score: 16.67%, 1 of 6... PI:14-44 (similar to) Question Help Andrea has wages of $90,000 and net income from a small unincorporated business of $50,000 for 2020. (Click on the icon to view the self-employment tax rate table.) Requirements a. What is the amount of Andrea's self-employment (SE) tax and deduction for AGI for her SE tax? b. How would your answer to Part a change if Andrea's wages were $150,000 rather than $90,000? Requirement a. What is the amount of Andrea's self-employment (SE) tax and deduction for AGI for her SE tax? Begin by completing the table below to show Andrea's SE tax for 2020 and then enter her deduction for AGI for her SE tax. (Round all currency amounts to the nearest whole dollar. Abbreviations used: OASDI = old-age, survivors, and disability insurance; HI = hospital insurance [Medicare).) SE tax fl Reference X SE tax fl Total SE Category OASDI Rate Dollar Limit 12.4% $137,700 First $200,000 of self-employment income ($250,000 combined self employment income 2.9% for joint returns) Self-employment income greater than 3.8% $200,000 ($250,000 for joint returns) Medicare Medicare Print DoneStep by Step Solution
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