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After you file
Yes, the deferral is optional. To delete this worksheet, you need to update TurboTax with a refreshed Sch SE-T while also removing any prior acceptance of the S-E tax deferral option.
First, delete Sch SE-T that applies by following these steps:
- In Forms Mode, scroll to Sch SE-T and select it to open.
- In the lower left corner, select Delete Form and confirm the deletion.
Next, to replace Sch SE-T, return to the self-employment income & expenses interview in the Business tab section and select Edit/Add.
- Select Edit for your business.
- Scroll down to Done so that the Sch SE is recalculated.
- Finish any other questions in the self-employment interview and click Continue.
Lastly, revisit the section for the Self-employment tax deferral entry:
- Return to the Deductions & Credits section.
- Scroll to Tax relief related to COVID-19 and Show More.
- Select Self-employment tax deferral and select Revisit.
- Answer Yes at the next screen to get back to Let's start by getting your eligible income.
- If you do not want to defer any self-employment income, "Enter your eligible self-employment income" should be blank.
- Select Continue.
- At Tell us how much you'd like to defer, "Enter amount" should be blank.
- Select Continue.
- If you do not want to defer any self-employment income, "Enter your eligible self-employment income" should be blank.
- Scroll down and select Wrap up Tax Breaks and Continue.
- Run through the Federal Review again.
ā€ˇFebruary 9, 2021
9:58 AM