Question: Exercise 12-25 (Algorithmic) (LO. 7) Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a.
Exercise 12-25 (Algorithmic) (LO. 7) Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a. Mario, who is single, earns wages of $437,400. His additional Medicare tax is $ 2,137 . b. George and Shirley are married and file a joint return. During the year, George earns wages of $152,400, and Shirley earns wages of $228,600. Their additional Medicare tax is $ 1,179 c. Simon has net investment income of $59,400 and MAGI of $297,000 and files as a single taxpayer. Simon's additional Medicare tax is $ 1,079 X.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
