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Schedule SE-S keeps giving me an error for Line 18 saying max deferral is too large. No # entered is accepted.
Line 18 says that my max deferral is too large. I am showing a loss for line 4c to which line 18 is referring. It is asking which portion can be attributed to March - Dec of 2020. However no matter what number I enter in this line it gives me an error message and flags it. I deleted everything and reentered it and it still flagged it. Edited to add: Line 4c to which line 18 is referring says "Combine lines 4a and 4b. If less than $400, stop; you don't owe self-employment tax. Exception: If less than $400 and you had church employee income, enter -0- and continue" Obviously if I am showing a loss it is less than $400.
March 17, 2021
8:52 AM