Is income from a partnership subject to self employment tax 2024?
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Studied at the University of Seoul, Lives in Seoul, South Korea.
The self-employment tax rate for self-employment earnings is generally 15.3%. However, for 2011, the rate is reduced to 13.3%. Generally, a taxpayer's share of ordinary income reported on a Schedule K-1 from a partnership engaged in a trade or business is subject to the self-employment tax.
2023-06-17 03:18:23
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Harper Adams
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The self-employment tax rate for self-employment earnings is generally 15.3%. However, for 2011, the rate is reduced to 13.3%. Generally, a taxpayer's share of ordinary income reported on a Schedule K-1 from a partnership engaged in a trade or business is subject to the self-employment tax.
