Self-employment tax (SE tax), is the Social Security and Medicare tax paid by self-employed individuals. It is similar to the Federal Insurance Contributions Act (FICA), which is the Social Security and Medicare taxes withheld from an employee’s paycheck. See here.
The SE tax rate is 15.3% with 12.4%for Social Security and 2.9%for Medicare. The IRS reports your SE tax on Schedule SE and also calculate the deduction that goes along with it.
Self-employment tax is and income tax are computed on the IRS form 1040 Federal tax return.
Are you referring to the Schedule J in IRS form 1040? Or Schedule J in some other IRS tax return?
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