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Deductions & credits
@salibi1 wrote:
In that case does this mean I will have to pay Social security and medicare taxes? If so does anyone know what forms I have to fill out? My first time as Self Employed.
You will have to pay self-employment tax, which is the Social Security and Medicare tax for self-employed people. When you enter your self-employment income in TurboTax it will fill out all the necessary forms. Schedule C is the primary form for reporting self-employment or business income. Schedule SE will calculate the self-employment tax.
March 30, 2020
8:30 AM
522 Views