Assume a taxpayer had a 2022 self-employment tax liability of $29,322, which was compromised of the...

 

Transcribed Image Text:

Assume a taxpayer had a 2022 self-employment tax liability of $29,322, which was compromised of the following $15,922 Social Security tax, $11,600 Medicare tax, and $1,800 additional Medicare tax. How much self-employment tax deduction will this taxpayer claim in 2022? Assume a taxpayer had a 2022 self-employment tax liability of $29,322, which was compromised of the following $15,922 Social Security tax, $11,600 Medicare tax, and $1,800 additional Medicare tax. How much self-employment tax deduction will this taxpayer claim in 2022?

Answer rating: 100% (QA)

To calculate the selfemployment tax deduction the taxpayer can use the follo... View the full answer