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What is the amount of excess payroll tax credit

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Problem 1: Nancy, 45 year old and single, has two jobs. Her gross income was $100, 000 from the full-time job and $50,000 from her pat time job. Both employers deducted the appropriate amount for Social Security and Medicare during 2019. What is the amount (if any) of excess payroll tax credit that Nancy can claim in her tax return for 2019? Round your answers to the nearest dollar.

Option 1: $0.

Option 2: $1,060.

Option 3: $1,308.

Option 4: $248.

Option 5: None of the above.

Reference no: EM132704456

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