From: Alan Dlugash
To: "Jeffrey E." <jeevacation@gmail.com>
Cc: Richard Kahn
Subject: Re: questions re leons return ? ?
Date: Tue, 18 Apr 2017 02:44:32 +0000
Medicare tax is just the unlimited portion of the self-employment tax, based on the same self-employment
income. But you are correct that limited partners income is not self-employment income, so I would think that
LDB would not have much.
It is clear that the schedule is of Obamacare tax (Net Investment Income Tax or NIIT) not Medicare tax. See my
explanation in my last email. As an NIIT calculation it looks fine, though I certainly do not have the details to
verify the numbers. Also, though the method of apportioning expenses between the Net investment income vs
the other income included in AGI seems reasonable, I might want to talk with Joslin as to whether there might be
a more advantageous way to do the allocation.
Alan
On Mon, Apr 17, 2017 at 10:02 PM, jeffrey E. <jeevacation®gmail.com> wrote:
Richard Joslin
8:37 PM (1 hour ago)
to me
SE tax? Do you mean Medicare tax. LDB does not pay SE tax. His income is exempt given that it is earned
via limited partnership interest.
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