Ms. T. an unmarried individual, has the following income items: Schedule C net profit ..$31,900 NOL carry
Question:
Schedule C net profit …………………..$31,900
NOL carry forward deduction …………. (9,190)
Interest income ………………………….. 725
Ms. T’s self-employment tax was $4,507. She had $6,270 itemized deduction and one dependent child (age 9) who lives in her home. Compute Ms. T’s income tax.
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Ms Ts total income 23435 Abovetheline deduction for onehalf SE ta...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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