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Which of the following statements regarding the self-employment tax is most accurate? A. The...

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Accounting

Which of the following statements regarding the self-employment tax is most accurate?

A. The self-employment tax base is generally the taxpayer's net income from self-employment (usually net income from Schedule C).

B. Taxpayers who report less than $600 of net income from self-employment (usually net income from Schedule C) are not required to pay self-employment taxes.)

C. The self-employment tax base is net earnings from self employment which is less than net income from self-employment.

D. The Social Security tax limit does not apply to self-employment taxes.

Which of the following is a true statement?

A. A casualty loss on personal-use assets is generally not deductible.

B. All casualty losses are deductible.

C. A casualty loss on investment property is generally not deductible.

D. None of the choices are correct.

E. A casualty loss on personal-use asset is deductible for AGI.

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