We have 1099-R and a farm. We receive a 1099-Misc for the farm. We have expenses, depreciation so a Schedule F. Is that considered self employment that should generate a Schedule SE? I don't see a Schedule SE in my forms section, only the SE Adj Wks. It shows my Schedule F farm loss on Part I line 1 and line 5. I did not show anything previous years on my Minnesota Schedule M1MA Marriage Credit before, that's Part 1 line 2. This is our first year doing our own as our tax person retired. It appears to be the only thing different from our previous years' taxes so possibly it's how TurboTax does this? If not though, I don't know how to remove it? Nothing seems out of place in the Step by Step section or the forms. I just have this extra 'thing'! LOL
Thanks!
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Since you have a loss on your farm business, you will not be subject to self-employment tax, so you shouldn't have a schedule SE in your tax return.
The marriage credit may apply if your filing status is joint, and you and your spouse have earned income, taxable pension or social security income. Also, your taxable income is at least $40,000 and the income of the lesser-earning spouse is at least $26,000.
I'm not worried about the marriage credit or the SE tax. I know I don't have any but it should not be filling data in SE Adj Wks. I don't believe the farm is self-employment and I don't have a Schedule SE in my forms. Just this SE Adj Wks. It should not be even in my forms and I don't know where to delete it from. Everything looks correct in the step by step section.
Farm income is self-employment income that requires a SE adj wks. If you have a farm loss shown in your return, then you do not need to pay self-employment tax because there is no income, thus no Schedule SE.. The SE adj wks makes this adjustment so you will not pay this SE tax. No income, no Schedule SE.
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