Vanessa A
Employee Tax Expert

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Where do you see your taxable income amount?  If you are looking on line 15 of your 1040, then your tax would consist of the 10% tax rate on the $5,200 and then 15.3% on that $5,200 PLUS your standard or itemized deduction.  So if you are single, then you would add back $12,950 to your income for a total of $18,150 and have an additional $2,776.95 plus the $520 for your ordinary tax rate for a total of about $3,300.

 

You will find the self-employment tax amount on Schedule 2 line 4. 

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