8. Sam has $80,000 of net income from his sole proprietorship. What is his deduction for AGI for self-employment taxes?

8. Sam has $80,000 of net income from his sole proprietorship. What is his deduction for AGI for self-employment taxes? (Points : 5) $12,240$11,304$6,120$5,652None of the above.

For self employed people a tax which is similar to the Federal Insurance Contributions tax whichis imposed by the Self Employment Contributions Act of 1954. Under this act the self employedpeople...