Question

self-employment tax and LLC

Forum|Forum|6 years ago
May 25, 2020
1 reply
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We don't know if we need to pay self-employment tax. We have filed a 2019 tax return using TurboTax. But we don’t know if we missed the self-employment tax. I am an employee and I have w2 which including Social Security and Medicare tax. My wife is a student and no other job. We have a husband and wife LLC in TX. Do we need to pay a self-employment tax? If we need to do this, do we need to file taxes separately？How to do that using TurboTax? can we make Quarterly Payments using turbotax? Thanks.

DoninGA

Employee

If you had a net profit from your self-employment, then a Schedule SE for the Self-Employment taxes would have been generated and included with your tax return. The self-employment taxes would have been entered on Schedule 2 Line 4, with the total from Schedule 2 flowing to your Form 1040 Line 15. The SE taxes would have been included in the taxes owed or would have reduced your federal tax refund.

To access your current or prior year online tax returns sign onto the TurboTax website with the userID you used to create the account - https://myturbotax.intuit.com/

Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on the Year and Click on Download/print return (PDF)

Or -

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.

This will take you back to the 2019 online tax return.

Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets