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Last year I filled out a schedule C for my NY Paid Family Leave income which was the wrong thing to do. Should I amend my taxes???

It was a total of $458
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1 Reply
JeffreyR77
Expert Alumni

Last year I filled out a schedule C for my NY Paid Family Leave income which was the wrong thing to do. Should I amend my taxes???

 

Yes, your Federal return is incorrect and can be amended. You are not required to file an amended return in this case.

 

Your NY Paid Family Leave income should have been reported as other income not subject to Social Security or Medicare taxes.   

 

In your case, less than $58 will have been taxed at 15.3% or a total of $9 of excess tax. 

 

The remainder is subject to income tax on both your Federal and state tax returns. An amended return will have no change on that.  

 

If you choose to amend your Federal tax return , you  can save $9.

 

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