Question: Problem 6-20 (Algorithmic) Computing the 0.9 Percent Medicare Tax for High-Income Taxpayers (L0 6.8) Married taxpayers Otto and Ruth are both self-employed and file a

 Problem 6-20 (Algorithmic) Computing the 0.9 Percent Medicare Tax for High-Income

Problem 6-20 (Algorithmic) Computing the 0.9 Percent Medicare Tax for High-Income Taxpayers (L0 6.8) Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $370,200 of self-employment income and Ruth has a self-employment loss of $43,900. How much 0.9 percent Medicare tax for high income taxpayers will Otto and Ruth have to pay with their 2019 income tax return? If required, round your final answer to nearest dollar. $ 273.36 x Feedback Check My Work The Affordable Care Act (ACA), imposes a Medicare tax on earned income such as salaries, wages, and self-employment income for certal high-Income taxpayers. The additional tax applies to high-income taxpayers defined as taxpayers with earned income from wages, compensation, and self-employ income over the following thresholds: $250,000 for joint filers $125,000 if married filing separately $200,000 for single filers (including head of household and qualifying widow(er)) The additional Medicare tax must be withheld from each employee with a salary in excess of a statutory threshold, whether single or marr Married couples must combine their earned income and compare the total with the threshold for married taxpayers to determine if they ow the additional Medicare tax

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