Lisa is a member of Bigfoot LLC, which runs a retail business in which she is active. For the current year, her K-1 shows: guaranteed payment, $40,000; ordinary income, $65,000; LTCG, 5,000; cash distribution, $97,000. Lisa is single and has no dependents and no other income.
Assuming that all Bigfoot income is self-employment income, compute her self-employment tax.
Compute her AGI.
c. Compute her income tax liability
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