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Robert earned $20,000 of profit from a sole proprietorship in 2018. If he also has $118400...

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Question

Accounting

Robert earned $20,000 of profit from a soleproprietorship in 2018. If he also has $118400 of salary income,how much self-employment tax will he owe?

A. 1820

B. 1776

C. 536

D. $580

Answer & Explanation Solved by verified expert
4.5 Ratings (624 Votes)
Correct option is A 1820 In case if a person is self employed and is in employment too the employment income should be first    See Answer
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Transcribed Image Text

Robert earned $20,000 of profit from a soleproprietorship in 2018. If he also has $118400 of salary income,how much self-employment tax will he owe?A. 1820B. 1776C. 536D. $580

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