Question

9. mary a single taxpayer, has salary of $140,180 and self-employment income of $120,000 in 2020. What is mary Additional Medicare Tax for 2020 (rounded)? a. $2,342 b. $ 542 c. $ d. $ 459 e. Noneis correct.

Answer 1

Solution option b: $542. le; Mary Additional Medicare Tan for 2020 = $542 Explanation Given, Salary $140, 180 Self-employment income $120,000 Total income = $140,180 + $120,000 $260,180 The Medicare Fan is an additional 0.9% in tan an individual must heey on income thresholds above $200,000 for singles . Here; Income above $200,000 $260,180 - $200,000 $60,180 Additional Medicare Taxe = $60,180 x 0.9% = $541.62 Additional Medicare Tane = $542 (Rounded)

NOTE: ~ The additional medicare tax applies if your wages (salary) and self-employment income total more than : $250,000 if married fiting jointly. • $ 125,000 if married thing seperately. . $200,000 for everyone else