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Get your taxes done using TurboTax
Do not confuse Itemized Deductions Deductions on Schedule A with your self employment expenses on schedule C. You get both the Standard Deduction and Business expenses. Schedule C and SE are still there.
Schedule C net Profit or Loss now goes to 1040 Schedule 1 line 12. Then the total on schedule 1 line 22 goes to 1040 line 6. It is listed to the left of line 6 and is added into the total on line 6. So line 6 can be more or less than the total of lines 1-5.
The self employment tax is on the 1040 Schedule 4 line 57 which goes to 1040 line 14. The SE tax is in addition to your regular income tax on the net profit.
Schedule C net Profit or Loss now goes to 1040 Schedule 1 line 12. Then the total on schedule 1 line 22 goes to 1040 line 6. It is listed to the left of line 6 and is added into the total on line 6. So line 6 can be more or less than the total of lines 1-5.
The self employment tax is on the 1040 Schedule 4 line 57 which goes to 1040 line 14. The SE tax is in addition to your regular income tax on the net profit.
‎June 1, 2019
4:52 PM