Which of the following is correct regarding self-employment taxes?

I. For the purposes of the portion of self-employment tax that is equivalent to Social Security tax, taxable self-employment income is limited to a prescribed maximum amount reduced by other wages earned by the taxpayer that are subject to FICA and Medicare taxes.

II. For purposes of the portion of self-employment tax that is equivalent to the Medicare tax, taxable self-employment income is limited to a prescribed maximum amount reduced by other wages earned by the taxpayer that are subject to FICA and Medicare taxes.

A. I only B. II only C. Neither I or II D. I and II