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Self Employment Tax Liability
I began collecting my social security benefits at my full retirement age in 2022 with no reduction in benefits. In 2022, I became an independent contractor and received a 1099NEC for $69,000. My self-employment tax liability for 2022 was computed by Turbo Tax as $5,900. My question is: Must I pay the self employment tax if I am already collecting my full Social Security retirement benefit? If so, is there any way to reduce the amount due?
March 28, 2023
5:51 PM