AnnetteB6
Expert Alumni

Get your taxes done using TurboTax

Thank you for sharing your token number.  I examined the Schedule SE-T in detail and noted the following.

 

Line 7 of Schedule SE is a set number each year for the maximum amount of earnings subject to Social Security tax.  For 2021 that number is $142,800.  This is the same number reported on your W-2 in box 3.  Therefore you have met the maximum requirement for Social Security tax withholding and no additional Social Security tax will be imposed on your self-employment income.  

 

When you take a closer look at the description shown beside box 8a on Schedule SE, it states 'If $142,800 or more, skip lines 8b through 10 and go to line 11.'  This is exactly what TurboTax does, so it is calculating the self-employment tax correctly.  

 

@LittleBit1

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