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.