Determine the medicare tax due related to self-employment

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Question - Allison and Jake formed a partnership. Erin has an income of 100,000 plus 51,377. Allison is single and takes the standard deduction. Allison has long term capital gains of 12,500 and interest income from Allison Bank of 900. Allison also received wages as an employee from a different company of 24,000. Allison has no other sources of income or deduction.

a. Determine the amount of income considered to be earned from self-employment activities?

b. Determine the amount of self-employment income subject to social security taxation?

c. Determine the social security tax due related to the self-employment income activities?

d. Determine the amount of self-employment income subject to medicare taxation?

e. Determine the medicare tax due related to the self-employment income activities?

Reference no: EM133036388

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