@ShanonW wrote:
Yes! Previous answers told me not to worry about it. I don't fully understand why it does this, but apparently, it is correct. It is concerning since it doesn't show during the process, and then all a sudden after you see that number.
best of luck
Because line 7 is prefilled by the IRS on the form - see the actual IRS form:
https://www.irs.gov/pub/irs-pdf/f1040sse.pdf
Line 7 is the maximum income subject the the SE tax.
Maximum income subject to social security tax.For 2020, the maximum amount of self-employment income subject to social security tax is $137,700.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
