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If i am filing my taxes through turbo tax self-employed does the state and federal balance that is due include social security and medicare taxes?
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June 3, 2019
10:36 AM
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Retirement tax questions
Yes, the amount of tax due on your Federal return will include self-employment taxes. The total self-employment tax is listed on line 57 of your 1040. The 1/2 deduction for the self-employment taxes is listed on line 27 of your 1040.
Your return will include the Schedule SE where the computation for the self-employment taxes is made. Most state returns begin with your federal return details, but if there were any state specific questions, then you would answer under the State tab.
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June 3, 2019
10:36 AM