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Retirement tax questions
Thanks. Yeah, I guess I worded that wrong by typing too quickly. By "net" I was meaning after all business expenses were deducted from SE income. In other words, I really meant the profit on the Sched C. The figure on Sch C, Line 31 is approx. $2700.
Single filer. There's only 1 business, no Sch F. Shouldn't Sch C, Line 31 (minus 1/2 SE tax) flow to those Earned Income and Roth Contrib Limit Worksheets? It's like nothing has flowed from Schedule C in regards to earned income.. The Line 31 did flow to the Schedule SE to figure the SE tax.
It's perplexing. I'm going to have to play around with it more to see if I can tell why it's not flowing. It's worked in previous years, but I was using the desktop version previously. Otherwise, if I can't figure it out I'll just cut my Roth Contribution in half this year.