This would not be an amendment if you have not e-filed or mailed in your returns yet. You are simply just making a change before submitting your taxes.
You can delete your election to defer your self-employment taxes from your tax return. However, the credit you may be seeing is half of your self-employment tax that is deducted from your return. TurboTax will automatically deduct half of the self-employment tax. You can confirm this by going to Preview my 1040. On Line 14, Deductible part of self-employment tax, in Part II, you will see half of your self-employment tax is deducted.
If you need help previewing your 1040, please follow these steps in TurboTax:
- Click on Tax Tools in the left column.
- Click on Tools.
- Click on View Tax Summary.
- Click on Preview my 1040 under 2020 Taxes in the left hand column.
If the amount is not a deduction of half of your self-employment tax, please make sure to follow these steps in TurboTax to change your election:
- Open your return.
- Click Federal on the left hand side.
- Click Deductions and Credits on the top of the page.
- On the page Tax Breaks, scroll down until you see Tax relief related to Covid-19.
- Click Revisit next to Self-employment tax deferral.
- Answer no to the question Do you want more time to pay self-employment taxes?
"Employee Tax Expert LenaH"
I have this same question. My deferral amount that I want to remove is separate from the half of my self employment tax. I follow the steps given to answer No to wanting more time to pay self-employment tax, but TurboTax does not remove the deferral. When I click No, the next screen says "It looks like you're not eligible for this deferral [because I'm getting a refund]." I only get a refund when I apply the deferral, and I don't want to defer payment. Do you have other ideas on how to remove the deferral amount? Thanks.
Choosing no to the question Do you want more time to pay self-employment taxes? does not change the deferral amount to zero. Any ideas on how to fix this? I do not want to defer the self-employment taxes
I'm having the same issue and I want to have the taxes taken out now with my refund. I am trying to find where I entered the amount I made during those dates to adjust it to put them it all in the first part of the year (not the best option, but the only way I could think to adjust it) but I can't find that area.
@JamesG1 provided an excellent solution as follows :
Your self-employment income may be eligible for a portion of your self-employment tax to be deferred. See this TurboTax Help.
In TurboTax Online Self-Employed, I was able to enter a self-employment tax deferral and pass Review. Then I was able to remove self-employment tax deferral and pass Review.
Follow these steps.
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Deductions & credits.
- Under Your tax breaks, scroll down to Self-employment tax deferral.
- Click on Edit/Add to the right of Self-employment tax deferral.
- At the screen Do you want more time to pay your self-employment tax?, click Yes.
- At the screen Let's start by getting your eligible income, leave the dollar amount you previously entered.
- Click on Continue.
- At the screen Tell us how much you'd like to defer, change the dollar amount to $0.
- Click Continue.
- Click through Federal Review to make sure than the Review issue has been removed.
- At the screen Some of your self-employment taxes may be eligible, click Skip.