- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You can elect not to defer self-employment taxes by:
- Login to Turbo Tax.
- Jump to Business tab, then click Business taxes..
- Click Self-employment taxes, then continue.
- The screen "Some of your self-employment taxes may be eligible for deferral" click continue.
- Answer Yes on "Did you want more time to pay your self-employment taxes?
- On the next screen, enter the net self-employment income you earned from March 27, 2020 through December 31, 2020, or if you received steady self-employment income throughout the year, enter 76.5% of self-employment income.
- The next screen will show how much self-employment taxes you may defer, enter zero.
You may also elect to defer the full amount by 12/31/2021 or pay half and pay the rest by 21/31/2022.:
- Login to Turbo Tax.
- Jump to Business tab, then click Business taxes..
- Click Self-employment taxes, then continue.
- The screen "Some of your self-employment taxes may be eligible for deferral" click continue.
- Answer Yes on "Did you want more time to pay your self-employment taxes?".
- Next screen, enter the net self-employment income you earned from March 27, 2020 through December 31, 2020, or if you received steady self-employment income throughout the year, enter 76.5% of self-employment income.
- The next screen will show how much self-employment taxes you may defer, click continue.
- The next screen will say "okay, you're all set up", an itemized payment schedule will appear.You're deferring and $ amount of your self-employment social security tax.
- $ is due on or before 12/31/2021.
- $ is due on or before 12/31/2022.
-
February 18, 2021
7:02 PM