Question: Using the legend provided, indicate whether the following items cause the particular tax to increase. Assume the taxpayer is already subject to these taxes. Legend
Using the legend provided, indicate whether the following items cause the particular tax to increase. Assume the taxpayer is already subject to these taxes.
Legend
SE = Self-employment tax
M = Additional Medicare tax
N = NIIT
NE = No effect
a. Wage income.
b. Sole proprietorship income.
c. Dividend received from a C corporation.
d. Taxable distribution from a retirement plan.
e. General partner's distributive share of income from a partnership.
f. Return of capital from a C corporation.
g. Guaranteed payment from a partnership for services.
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