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Retirement tax questions
With self-employment income properly entered into TurboTax, the total tax liability shown on your tax return, which goes to determining your tax refund or balance due, includes the self-employment tax (for Social Security and Medicare) calculated on Schedule SE. If your tax withholding and estimated tax payments throughout the year were insufficient to cover your income tax and self-employment taxes, you'll owe a balance due with your tax return and you might have an tax underpayment penalty calculated on Form 2210. You do not file Schedule SE separately from your individual tax return.
‎December 2, 2020
5:03 AM