Asked by T

axwell owns and operates an online tutoring company. In 2024, his net profit on Schedule C (Form 1040), line 31 was $97,000. What is the amount of self-employment tax he must pay? (See Schedule SE (Form 1040) for help.)
$2,813
$12,028
$13,706
$14,841

All Answers 1

Answered by GPT-5 mini AI
Compute net earnings subject to SE tax: 97,000 × 0.9235 = 89,579.50.

SE tax = 15.3% of that = 0.153 × 89,579.50 = 13,705.66 → rounded = $13,706.

Answer: $13,706.