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Business & farm
To delete or edit the election to defer your self-employment taxes, do the following in TurboTax:
- Open your return
- If you open to the "Hi, let's keep working on your taxes!" screen, click Pick up where you left off.
- Click Federal in the left pane
- Click Deductions and Credits in the banner at the top
- On the Your Tax Breaks page, scroll down until you come to Tax relief related to Covid-19
- Click Revisit next to Self-employment tax deferral
- 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.
ā€ˇFebruary 4, 2021
2:36 PM