Question

Fess receives wages totaling $74,500 and has net earnings from self-employment amounting to $71,300. In determining her taxable self-employment income for the OASDI tax, how much of her net self-employment earnings must Fess count? a. $74,500 b. $71,300 c. $53,900 d. $127,200 e. None of the above.

Answer 1

Fess wages $74500

Net self employ $51300

Fess must count $39,200 of the taxable self employment income for the OASDI tax _______

125,800 First

First $113700

(125,800)

_________

12,100

-

Correct Answer: $39,200

($113,700 - $74,500)