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Assessment Tool iFrame Required information [The following information applies to the questions displayed below.]...

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Accounting

Assessment Tool iFrame
Required information
[The following information applies to the questions displayed below.]
Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and receives
guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year. Before considering his
50 percent business income allocation from Cougar and the self-employment tax deduction (if any), Omar's adjusted gross
income is $210,000(includes $50,000 guaranteed payment from Cougar and $180,000 salary from a different employer).
Omar reports itemized deductions of $40,000. Answer the following questions for Omar.
Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the
nearest whole dollar.
e. What is Omar's additional Medicare tax liability?
Answer is complete but not entirely correct.
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