In 2023, Miranda records net earnings from self - employment of $191,600. She has no other income. Determine the amount of Miranda's self - employment tax and her AGI income tax deduction. In your computations, for the tax liability, round interim amounts to two decimal places and the final answer to the nearest whole dollar. For the AGI deduction, if necessary, use amounts that have been rounded to the nearest dollar. Miranda's self- employment tax is and she has a deduction for AGI.

In 2023, Miranda records net earnings from self - employment of $191,600. She has no other income. Determine the amount of Miranda's self - employment tax and her AGI income tax deduction. In your computations, for the tax liability, round interim amounts to two decimal places and the final answer to the nearest whole dollar. For the AGI deduction, if necessary, use amounts that have been rounded to the nearest dollar. Miranda's self- employment tax is and she has a deduction for AGI.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter13: Tax Credits And Payment Procedures

Section: Chapter Questions

Problem 22CE

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