why? in Turbotax step-by-step mode you saw a screen that showed something like
"your eligible income is the net self-employment income you earned from March 27.2020 through December 31, 2020.
enter your eligible self-employment income"
you enter an amount.
what Turbotax didn't show is that entering an amount would allow deferral of the FICA portion of the self-employment tax on that amount. 1/2 due 12/31/2021 and the rest 12/31/2022. this is what Cares Act Section 2302 allowed you to do. if you didn't want the deferral you had to enter $0
the deferral amount will appear on form SE line 26 which transfers to schedule 3 line 12e
which then goes to form 1040 line 31
How to repay the deferred taxes
Employers can make the deferral payments through the Electronic Federal Tax Payment System (EFTPS) or by credit or debit card, money order or with a check. These payments must be separate from other tax payments to ensure they're applied to the deferred payroll tax balance. IRS systems won't recognize the payment if it is with other tax payments or sent as a deposit.
EFTPS will soon have a new option to select deferral payment. The employer selects deferral payment and then changes the date to the applicable tax period for the payment. Employers can visit EFTPS.gov, or call 800-555-4477 or 800-733-4829 for details.
