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Self employed
Oh I see, thanks a lot for pointing this out! I think I have better understanding now, by looking at the QBI deduction smart worksheet, it is indeed taking 1/2 of the self-employment tax and deducting it. Could you also explain the difference between the following lines in the smart worksheet:
5b: Total deduction for 1/2 self employment tax
5c: Deduction for 1/2 SE tax connected to this business
5c is a bit smaller than 5b and I can't figure out why.
March 19, 2023
12:22 PM