Lance, a single taxpayer, is a teaching assistant at Big State University and has W-2 income of $77,000 in 2021. He also works evenings and weekends as a computer consultant and over the course of the year earned $62,000 net self-employment income. What is Lance's self-employment (SE) tax (rounded to the nearest dollar)?

Lance, a single taxpayer, is a teaching assistant at Big State University and has W-2 income of $77,000 in 2021. He also works evenings and weekends as a computer consultant and over the course of the year earned $62,000 net self-employment income. What is Lance's self-employment (SE) tax (rounded to the nearest dollar)?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 60P

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