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Young is single and self-employed. His net profit from the business is $100,000. His self-employment tax on Schedule SE is $14,130. He contributed $6000 to
Young is single and self-employed. His net profit from the business is $100,000. His self-employment tax on Schedule SE is $14,130. He contributed $6000 to his self-employment SEP IRA account. He also paid $7800 self-employed health insurance premium in 2018. What is the amount of adjustments to income on line 36 of Schedule 1 (Form 1040)?
a) $20,865
b) $13,800
c) $13,065
d) $14,865
(This question applies to 2018 tax year).
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