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Get your taxes done using TurboTax
To fix the review that states Line 11 is too large at $0, you must manually update your program regarding your self-employment tax.
To manually update your program, try these options:
First, enter nothing--leave the response blank. Run the review again to see if the issue as resolved.
Second, if the error persists, delete Schedule SE so that the needed Schedule SE is regenerated:
- Delete Sch SE by following these steps:
- From the left menu, select Tax Tools.
- Select Tools.
- Scroll to Delete a Form.
- Scroll to Sch SE-T and select Delete.
- Return to the self-employment income & expenses interview in the Income & Expenses section and select Edit/Add.
- Select Edit for your business.
- Scroll down to Done so that the Sch SE is recalculated.
- Finish any other questions in the self-employment interview and click Continue.
- Review the return again.
Third, If you are still experiencing unexpected results, then there is one more process to try: temporarily trigger a balance due by adding income long enough to decline the SE tax deferral option, then remove the extra income.
1. Enter a temporary amount as income in the self-employment section that will result in you not having a refund.
- From the left menu, select Federal.
- From the Income & Expenses, scroll to Self-employment income & expenses and Edit/Add.
- At Your 2020 work summary, select Edit.
- Under INCOME, select Add income for this work.
- Add Other self-employed income, includes 1099-K, cash, and checks and Continue.
- At Type of income, enter Temp income to remove deferral and enter a large amount, such as $100,000 and Continue.
2. Decline to defer any self-employment tax.
- From the left menu, click on Federal.
- Click the second tab from the left, Deductions & Credits.
- Scroll down to Tax Relief related to Covid-19 and Revisit.
- Select Self-employment tax deferral and select Revisit.
- Answer Yes at the next screen to get back to Let's start by getting your eligible income.
- Enter 280/366ths of your income to reflect the income from March 27-December 31, 2021.
- This amount should be calculated and entered without the false added income, and will post to Line 18 of Sch SE
- Select Continue.
- At Tell us how much you'd like to defer,
- Enter 0.
- Enter 280/366ths of your income to reflect the income from March 27-December 31, 2021.
3. Remove the temporary income.
- From the left menu, select Federal.
- From the Income & Expenses, scroll to Self-employment income & expenses and Edit/Add.
- At Your 2020 work summary, select Edit.
- Under INCOME, select the Trash can icon next to Temp income to remove deferral and Continue.
4. Run the review again.
Without having a tax balance due, the qualifications are no longer met to defer 50% of the self-employment tax. Deferring this tax is optional.
For more details, see: IRS: Deferral of employment tax deposits and payments through December 31, 2020.