d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
Chapter3: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 35P
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Problem 15-45 (LO 15-3) (Algo)
[The following information applies to the questions displayed below.]
Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does not do any work for
Guardian Corporation. Guardian Corporation reported $304,000 of business income for the year (2022). Before
considering her business income allocation from Guardian Corporation and the self-employment tax deduction (if any),
Kiyara's adjusted gross income was $254,000 (all employee salary). Kiyara has $40,200 in itemized deductions. Answer
the following questions for Kiyara.
Note: Leave no answer blank. Enter zero if applicable.
Problem 15-45 Part d (Algo)
d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
Additional Medicare tax liability
4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb802f7df-692d-4f4b-bae2-4f09df161cb3%2F907be45c-67d2-4245-b463-e24bb387ba51%2Fafp17k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Problem 15-45 (LO 15-3) (Algo)
[The following information applies to the questions displayed below.]
Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does not do any work for
Guardian Corporation. Guardian Corporation reported $304,000 of business income for the year (2022). Before
considering her business income allocation from Guardian Corporation and the self-employment tax deduction (if any),
Kiyara's adjusted gross income was $254,000 (all employee salary). Kiyara has $40,200 in itemized deductions. Answer
the following questions for Kiyara.
Note: Leave no answer blank. Enter zero if applicable.
Problem 15-45 Part d (Algo)
d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
Additional Medicare tax liability
4
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT