JohnW152
Expert Alumni

Business & farm

To delete or edit the election to defer your self-employment taxes, do the following in TurboTax:

  1. Open your return
  2. If you open to the "Hi, let's keep working on your taxes!" screen, click Pick up where you left off.
  3. Click Federal in the left pane
  4. Click Deductions and Credits in the banner at the top
  5. On the Your Tax Breaks page, scroll down until you come to Tax relief related to Covid-19
  6. Click Revisit next to Self-employment tax deferral
  7. When you're asked Do you want more time to pay self-employment taxes?, answer No

 

Self-employed taxpayers are allowed to pay 50% of Social Security tax on net earnings from self-employment for the period March 27, 2020 through December 31, 2020.