Problem $4-18$

Self$-$Employment Tax $($LO $4\mathrm{.}10)$

Tommy Staples is a self$-$employed surfboard maker in $2023.$ His Schedule C net income is $$136,000$ for the year. He also has a part$-$time job and earns $$35,000$ in wages subject to FICA taxes. Calculate James$$ self$-$employment tax for $2023$ using Schedule SE$.$

Calculate Sherry$$s deductible depreciation, the net income or loss from the vacation home, and the loss carryforward, if any.

Base allocation on number of months, rather than days. If your answer value is zero, enter $"0."$