Problem 6-16 Self-Employment Tax (LO 6.6) Stewart Beauf is a self-employed surfboard maker in 2019. His...

Problem 6-16
Self-Employment Tax (LO 6.6)

Stewart Beauf is a self-employed surfboard maker in 2019. His Schedule C net income is $126,503 for the year. He also has a part-time job and earns $16,100 in wages subject to FICA taxes.

Calculate Stewart's self-employment tax for 2019 using Schedule SE.

If required, round amounts to the nearest dollar. Enter all amounts as positive numbers. If a line item does not require an entry or the answer is zero, enter "0".

Expert Solution

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Problem 6-16 Self-Employment Tax (LO 6.6) Stewart Beauf is a self-employed surfboard maker in 2019. His...

Problem 6-16 Self-Employment Tax (LO 6.6) Stewart Beauf is a self-employed surfboard maker in 2019. His Schedule C net income is $126,503 for the year. He also has a part-time job and earns $16,100 in wages subject to FICA taxes. Calculate Stewart's self-employment tax for 2019 using Schedule SE. If required, round amounts to the nearest dollar. Enter all amounts as positive numbers. If a line item does not require an entry or the answer is zero, enter "0".

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Problem 6-16 Self-Employment Tax (LO 6.6) Stewart Beauf is a self-employed surfboard maker in 2019. His...

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Problem 6-16 Self-Employment Tax (LO 6.6) Stewart Beauf is a self-employed surfboard maker in 2019. His...

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