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Updated about 4 years ago,
Do I need to pay self-employment tax on my rental income
Hey, I and my husband both are w2 wage earners. We formed an LLC and have 3 properties under that LLC and earning rental income
My question, do we need to pay a self-employment tax on the rental income? We pay SS and Medicare tax on W2 wage already and it's is way over the cap. (>> $500k). In that case, Do We still need to pay an additional 15.3% self-employment tax on the rental income?