Question: Exercise 13-22 (Algorithmic) (LO. 6) In 2019, Miranda records net earnings from self-employment of $143,100. She has no other income. Determine the amount of Miranda's

 Exercise 13-22 (Algorithmic) (LO. 6) In 2019, Miranda records net earnings

Exercise 13-22 (Algorithmic) (LO. 6) In 2019, Miranda records net earnings from self-employment of $143,100. She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction. In your computations round all amounts to two decimal places. Round your final answers to the nearest dollar. Miranda's self-employment tax is $ 20,219 and she has a $ 10,110 deduction for AGI

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!