The CARES Act allows certain self-employed individuals to defer self-employment taxes (social security portion). If you prefer not to take advantage of it, you may follow the following steps:
- Login Turbo Tax Online.
- On Tax Home Screen, click Deductions and Credits.
- Scroll down until you get to "Tax Relief related to Covid-19" click show more.
- Choose "Self -Employed TaxDeferral,, then click start
- Click No on the question "Do you want more time to pay your Self-employment Taxes", then click continue.
- Enter Zero on "Tell us how much you'd like to defer.
Self-employment taxes is reported on Schedule 2, Part 2, line 4..
