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whartonsj
May 5, 2024
Question

Credit for Self-Employment Taxes

  • May 5, 2024
  • 1 reply
  • 0 views

Where is the 50% credit for the self-employment tax entered?

1 reply

VolvoGirl
VolvoGirl
Employee
May 5, 2024

You don't enter it.  Turbo Tax automatically gives it to you.  You get to take off the 50% ER portion of the SE tax as an adjustment on 1040 Schedule 1 line 15 which flows to 1040 line 10.  It reduces your taxable income for the regular income tax but won't reduce the total self employment tax on 1040 line 23.

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