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Retirement tax questions
@tgad1000 wrote:
It is follow up question? how do I pay social security tax when I receive a 1099 form from my wife? How can I do that on Turbo Tax? please elaborate.
If you were paid $400 or more then you would complete a Schedule C for your self-employment income and expenses. The Schedule C would be included with your federal tax return Form 1040 that you file with your spouse when filing jointly. You pay Self-Employment taxes on the net income you receive from self-employment. The Self-Employment taxes are reported on your federal tax return and they are the Employer/Employee portions of Social Security and Medicare taxes combined.
‎December 11, 2023
8:52 AM