What is the net earnings from self employment income

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Question - Calculate the self-employment tax for 2019 based on the below information for John Snow.

Required information: John snow is required to pay self employment tax on the net profits of the business. Assume his net profit is $100,000 for Year 3. There is $10,000 for Section 1231 gain. Also, assume the maximum social security tax limit for 2019.

What is the total amount of self employed income?

What is the net earnings from self employment income?

What is the self employment tax amount?

What are the adjustments for self employed tax paid?

Reference no: EM132820633

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