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Title: Hui pays self-employment tax on her sole proprietorship income, supplemental Medicare surtaxes on ... Post by: vposada on Sep 7, 2020 Hui pays self-employment tax on her sole proprietorship income, supplemental Medicare surtaxes on excess wages and self-employment income (the .09% tax) and supplemental Medicare taxes on investment income (the 3.8% tax). Which of the following statements is correct regarding the deductibility of these taxes?
▸ All three of the taxes are deductible as itemized deductions. ▸ One-half of the self-employment tax is deductible for AGI, and the .09% and 3.8% taxes are itemized deductions. ▸ None of the taxes are allowed as a deduction. ▸ One-half of the self-employment tax is deductible for AGI, but the .09% and 3.8% taxes are not allowed as deductions. Title: Hui pays self-employment tax on her sole proprietorship income, supplemental Medicare surtaxes on ... Post by: layjawil on Sep 7, 2020 Content hidden
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