- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You’re basically correct.
You can include the $1,267 Massachusetts-allocated self-employment tax in line 11 of your 2021 Form 1 Massachusetts Resident Income Tax Return. And, yes, the 2.9% for Medicare counts, as well. (Up to the $2,000 maximum noted in the Line 11 instructions in the 2021 Form 1 Instructions.)
The only minor correction I’d make to your assessment is that you’re claiming a deduction here, not a credit. A deduction offsets taxable income; a credit directly offsets tax, itself.
As for receiving Earned Income Credit, that’s a non-issue, and has nothing to do with your self-employment calculations.
**Say "Thanks" by clicking the thumb icon at the lower left
**Mark the post that best answers your question by clicking on “Mark as Best Answer”