RTRP - IRS Registered Tax Return Preparer Test

Category - IRS RTRP

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Self-employment tax applies to which of the following?

Individuals who report only interest and dividend income
Corporations that report less than $50,000 in gross receipts
Independent contractors reporting net earnings from self-employment of $100
Independent Contractors reporting net earnings from self-employment of $400 or
more

Explanation

Answer: D - Independent Contractors reporting net earnings from self-employment of $400 or more.

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