This would not be an amendment if you have not e-filed or mailed in your returns yet. You are simply just making a change before submitting your taxes.
You can delete your election to defer your self-employment taxes from your tax return. However, the credit you may be seeing is half of your self-employment tax that is deducted from your return. TurboTax will automatically deduct half of the self-employment tax. You can confirm this by going to Preview my 1040. On Line 14, Deductible part of self-employment tax, in Part II, you will see half of your self-employment tax is deducted.
If you need help previewing your 1040, please follow these steps in TurboTax:
- Click on Tax Tools in the left column.
- Click on Tools.
- Click on View Tax Summary.
- Click on Preview my 1040 under 2020 Taxes in the left hand column.
If the amount is not a deduction of half of your self-employment tax, please make sure to follow these steps in TurboTax to change your election:
- Open your return.
- Click Federal on the left hand side.
- Click Deductions and Credits on the top of the page.
- On the page Tax Breaks, scroll down until you see Tax relief related to Covid-19.
- Click Revisit next to Self-employment tax deferral.
- Answer no to the question Do you want more time to pay self-employment taxes?
"Employee Tax Expert LenaH"
