Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $180,000 salary working full time for Angels Corporation. Angels Corporation reported $400,000 of taxable business income for the year (2021). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason’s adjusted gross income is $180,000 (all salary from Angels Corporation). Answer the following questions for Mason. (Leave no answer blank. Enter zero if applicable.)
a. Assuming the income allocated to Mason is qualified business income, what is Mason’s deduction for qualified business income?
b. What is Mason’s net investment income tax liability (assume no investment expenses)?
c. What is Mason’s self-employment tax liability?
d. What is Mason’s additional Medicare tax liability?