[for425]

For those who have taken REG already-

Do questions in simulations ask for calculations like below? Is this why everyone stresses the AL, would you be expected to look the thresholds and equation like this up? In the MCQ there has been nothing this complex…

This was part of the 1040 in the first Ninja Sim:

Line 27: Mrs. Vick is a part-time real estate agent and is considered to be self-employed. She may owe self-employment tax. In order to calculate the amount of self-employment tax owed, she would fill in Schedule SE (Form 1040). One-half of the self-employment tax is a deduction before AGI.

1. Net profit from Schedule C $5,000.00

2. Multiply above amount by 92.35% (0.9235) 4,617.50

3. Multiply the lesser of $117,000 or line 2 amount by 15.3% (0.153) 706.48

4. Multiply line 3 amount by 50% (0.50) 353.24

FAR - 72, 81
BEC - 76
REG - 78
AUD - 61 (1/24), Retake (6/6)

Materials: Becker
FAR Retake: + Wiley TB
REG & AUD: + Ninja MCQ