Do you have self-employment income? If so, then you may be looking at the Part II of the form instead of the applicable to you Part I which calculates all self-employment income on the return.
Schedule SE has two parts:
Part I calculates self-employment tax on all self-employment income on the return.
Part II is used to calculate "optional methods to figure net earnings for farm and non-farm self-employment income. There may be numbers appearing in this section that may not be applicable to your situation and if this is the case, they will not be used in the rest of the calculations.
Schedule SE calculates the Social Security and Medicare tax (self-employment tax) on profits from self-employment and certain other income.
If you made at least $400 in profits from self-employment or if Schedule SE is otherwise required (for example, church employee income), we'll automatically fill it out and attach it to your return. We figure out your self-employment tax from the income you report and the info you give us on expenses for your self-employment work.
The amount of your self-employment tax from (the amount on Schedule SE) is included into the running amount of your total tax refund (or tax owed), displayed in TurboTax as you work on your return.
You can also visit the Schedule SE section in TurboTax by:
- Open (continue) your return if it isn’t already open.
- Inside TurboTax, search for sch SE and then select the Jump to link in the search results.
- On the Self-Employment Tax screen, select Make Adjustments.
If you need to adjust Schedule SE, enter your income and expenses beforehand.
Related Information:
For additional information please refer to the following link:
Where to find Schedule SE in the return
For additional information on what each section means on your return, please refer to the following information:
Instructions for Schedule SE
