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23-01-2024
Business

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Mona is self-employed working as a fortune teller. Her net income from this activity was $250 in 2022. Which of the following is true regarding her self-employment (SE) tax for the year?

Options:
A) Mona is exempt from SE tax.
B) Mona is only liable for SE tax if her net income exceeds $400.
C) Mona's SE tax is calculated based on her gross income.
D) Mona is not required to pay SE tax on her net income.

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