Adjustments to Income
Free IRS Enrolled Agent SEE Part 1 (Individuals) lesson in Income and Assets. 10 min read, ~1,488 words.
SE tax 15.3% on 92.35% of net SE earnings (12.4% SS to \$176,100, 2.9% Medicare uncapped); half deducts on Schedule 1. Traditional IRA \$7,000 / \$8,000 if 50+; active-participant phaseout \$79K to \$89K single, \$126K to \$146K MFJ; earned compensation required. HSA \$4,300 self / \$8,550 family + \$1,000 catch-up...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
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