Question

When I enter my info as a w2 employee with 3 dependents and no tax withheld, my tax refund is muuuuch bigger than when I enter my info as a self employed with same, Why?

Forum|Forum|3 years ago
February 10, 2023
1 reply
0 views

No text available

TurboTax Self Employed Online

Employee

When you are self-employed you pay self-employment tax for Social Security and Medicare, since you did not have an employer withholding that or paying the employer portion. You cannot "choose" to enter your income as a W-2 employee if you were self-employed. You also need to enter your business expenses on a Schedule C.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**