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his or her return and reported self-employment tax of
$2,334.87. It appears that the self-employment tax
computed by each petitioner for 1987 is based upon one-
half of the net earnings from three businesses reported
on Schedules C and a net loss from one or more farm
partnerships. A summary of the self-employment tax
computed by each petitioner for 1987 is as follows:
1987
Self-Employment Tax Total 1/2 Share
Schedule C, Production-Oil & Gas$61.30 $30.65
Schedule C, Financial Adviser 40,706.81 20,353.41
and investments
Schedule C, Pilot Lessons- (286.75) (143.38)
Charter Flights
Net Profit from Schedule C 40,481.36 20,240.68
& Schedule K-1
Net Farm Profit or Loss from
Schedule F & Farm Partnerships (2,516.00) (1,258.00)
37,965.36 18,982.68
Rate 0.123 0.123
Self-employment tax 4,669.74 2,334.87
For 1988, each petitioner filed a Schedule SE, Social
Security Self-Employment Tax, with his or her return and
reported self-employment tax of $1,100.47. It appears
that the self-employment tax computed by each petitioner
is based upon one-half of the net earnings from four
businesses reported on Schedules C, the income from two
joint ventures reported as miscellaneous income, and a net
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