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Get your taxes done using TurboTax
Ok Your earned income to calculate the Standard Deduction is the Net Profit minus 1/2 the SE tax.
So 2,482 - 1,013 = 1,469 Net Profit
SE tax is 1,469 x .9235 x .153 = 207.56
207.56 / 2 = 103.78
1,469 - 103.78 = 1365.22 earned income
1365.22+350= 1,715.22 Standard Deduction
‎February 27, 2021
11:51 AM