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Get your taxes done using TurboTax
The Self-Employment tax (schedule 2, line 4) on your SE Income is likely causing the screwy % number. The SE tax is assessed on your self-employment gain before your taxable income is reduced by your personal tax deductions.
The 15.2% SE tax assessed should show up on line 4 of the Schedule 2, and is calculated based on the values shown on your Schedule SE.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎August 1, 2020
6:53 AM