[jcw1503]

Trump is a wealthy business executive who owns his own consulting business which he reports as a sole proprietorship. He also is a general partner in the NYC Partnership and a limited partner in the LSV Partnership. He also is a 100% shareholder in an S corporation. Specific details for 2011 are as follows:

Net Income from consulting business reported $100,000

Distributive share of income from NYC Partnership 60,000

Distributive share of income from LSV Partnership 40,000

Distributive share of income from S Corporation 25,000

Guaranteed payment received from LSV Partnership 10,000

Fee for serving as executor of brother’s estate 15,000

On the chart below indicate which income items are subject to the self-employment tax by including the appropriate income in the self-employment income column:

Input Answer Below: (Correct Answer Inputted)

Income Item: Self Employment Income:

Net Income from Consulting Business $600

The reason they gave me for this answer: “Income from sole proprietorships is included in self-employment income.”

I know it is but why is it only $600????? Could this be an error on their part? Thanks

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