dmertz
Level 15

Deductions & credits


it should calculate Medicare tax on .9855 of the self employment income.  But TT calculated it on .9235 of the self employment income.

TurboTax's calculation is correct.  The Medicare tax is properly calculated on 92.35% of net profit whether or not you've maxed out the Social Security wage base.  It's never calculated on 98.55% of net profit.  See the calculation on Schedule SE.