Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire.
If you make an estimated payment it is like withholding from W2 income. You enter it into your tax return and get credit for it.
1099Misc is self employment income. Are you using the Online Premier version or the Desktop CD/Download program? You can enter self employment into Online Premier but if you have any expenses for it you need to use the Online Self Employed version. You can use any Desktop program. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
For Social Security....
If you also have W2 income, you have to break out the Social Security and Medicare taxes. Only the Social Security part maxes out. Turbo Tax does it automatically for you.
The SE tax includes what you already paid in from your W2s so your schedule SE tax will only be the difference up to the max amount of $8,249.80 for social security. The max income for social security for 2019 is $132,900 between W2 wages and the schedule C Net Profit.
Medicare is 2.9% (both er & ee parts) of all wages & schedule C profit - no max.
