CPA Accountant Review Questions

Category - Tax Preparation

A taxpayer can make an adjustment to income on Form 1040 for which of the following?
  1. Deductible part of self-employment tax from Schedule SE
  2. Medical expenses
  3. Excess social security and tier 1 Railroad Retirement Tax
  4. Prior year federal income tax paid
Explanation
Answer: A - Deductible part of self-employment tax from Schedule SE.
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