I am self employed and married joint filing. Our 1040 Schedule 2 says Self Employment tax is $1224 and 1040 tax due says $686. Which amount should I pay to cover my SE FICA and avoid penalty?
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You need to pay the amount on your form 1040, line37 (the amount you owe.) The self employment tax listed on line 4 of schedule 2 is included in the amount you owe on form 1040.
You need to pay the amount on your form 1040, line37 (the amount you owe.) The self employment tax listed on line 4 of schedule 2 is included in the amount you owe on form 1040.
Thanks so much for your guidance. Be well.
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