Question: Required information Problem 04-47 (LO 04-3) (Static) [The following information applies to the questions displayed below.] Sofia (single) is a 50 percent owner in Beehive

![to the questions displayed below.] Sofia (single) is a 50 percent owner](https://s3.amazonaws.com/si.experts.images/answers/2024/08/66d01483b6cfc_77166d0148368ba4.jpg)
Required information Problem 04-47 (LO 04-3) (Static) [The following information applies to the questions displayed below.] Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive. Beehive LLC reported $600,000 of taxable business income for the year (2022). Before considering her 50 percent business income allocation from Beehive and the self-employment tax deduction (if any), Sofia's adjusted gross income is $150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia. Note: Leave no answer blank. Enter zero if applicable. Problem 04-47 Part a (Static) a. What is Sofia's self-employment tax liability? c.What is Sofia's net investment income tax liability (assume no investment expenses)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
