Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is $166,000. What are her self-employment tax liability and additional Medicare tax liability for 2022?

Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is $166,000. What are her self-employment tax liability and additional Medicare tax liability for 2022?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions

Section: Chapter Questions

Problem 46P: Paige, age 17, is a dependent of her parents. During 2019, Paige earned 3,900 pet sitting and 4,200...

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Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is $166,000.
What are her self-employment tax liability and additional Medicare tax liability for 2022?

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