1099 Contractor - SS Points

Forum|Forum|1 year ago
February 4, 2025
1 reply
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I am a 1099 contractor for an online company. I need to pay my taxes for this, but I want to make sure that when I pay social security I get the points added to my retirement. Can someone explain how I would do that?

xmasbaby0

Employee

When you enter your self-employment income you must prepare a Schedule C for your business expenses and there will also be a Schedule SE prepared. You pay self-employment tax for Social Security and Medicare ---which is then reported to SS and included in your SS credits.

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/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-

business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m6a6gknk

https://ttlc.intuit.com/turbotax-support/en-us/help-article/payroll-additions-deductions/qualify-qualified-business-income-deduction/L0rM2cIIQ_US_en_US?uid=m5zpoxad

https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/self-employed-expenses-deduct/L37ZS1B8T_US_en_US?uid=m6fntpg7

**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.**

jmallock_725Author

Is this something I can do every 3 months (every quarter)?

KeshaH

TurboTax will help you calculate your quarterly estimated tax payment for 2025. The estimates will be based on your 2024 income, but you'll be given a chance to make adjustments for income or expenses that you know will change. For example, if you got a big contract and know that you're self-employment income is going to double - you can adjust for that so that you pay more during the year.

The estimated section comes at the end of your federal taxes, in the Other Tax Situations section before you move on to state. If you need to make state estimated payments, that section will show up toward the end of the state tax section.

To jump right there, when you're logged in to your return, search 1040-es in the search bar. Click on the "jump to 1040-es" result. You'll be walked through setting up your federal estimated payments.

Please see:

- Estimated Payments: How to Determine What to Pay and When

- How does TurboTax calculate my estimated tax payments?

- How do I make estimated tax payments?