All Posts

To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax. You can enter Self Employment Income into Online Deluxe but if you have any expenses you will have to upgrade to Premium version. Or any of the Desktop programs. But you will get the most help in the Home & Business version. How to enter income from Self Employment https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653 Where to enter business expenses https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-self-employment-business-expenses-like-home-office-vehicle-mileage-and-supplies/01/27109   Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire. You do get to take off the 50% ER portion of the SE tax as an adjustment on 1040. The SE tax is already included in your tax due or reduced your refund. The SE tax is in addition to your regular income tax on the net profit.   Here is some IRS reading material…… IRS information on Self Employment https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center IRS Guide to Business Expense Resources https://www.irs.gov/forms-pubs/guide-to-business-expense-resources Turbo Tax Self Employed Tax Hub https://turbotax.intuit.com/personal-taxes/self-employment-taxes Turbo Tax Self Employment info https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5

You can't enter a 1099R now.   It won't be ready until Jan 21.   But yes if you don't owe tax on 1040 line 16  on  your total income you should get a refund of the withholding.    Do you have any other income?  

For 2025 the max for Social Security is $10,918.20 on $176,100 of wages.      First of all try leaving the cents off box 4. Check boxes 3 & 4 on your W2. Box 4 should be 6.2% of box 3 up to a max of $10,918.20. So take the amount in box 3 and multiply it by .062. If box 4 is more than that you need to get a corrected W2 from your employer. But also go back and double check your W2 entries, you may have entered box 3 & 4 wrong. A lot of people who have asked this found they did enter an amount wrong. Or check W2 box 12. You may have entered Code A by mistake. A sure way to fix this is to delete the W2 and re-enter it. That may clear something out. Or post back with the amounts in boxes 3&4.

What do you mean "new" mortgage? Is it a refinancing without any of the proceeds being used to buy, build, or substantially improve the home that secures it?   If you used the new loan to pay off the old one, only the amount equal to the balance on the old debt qualifies for a deduction. If you paid off the old one outside of taking out the new debt, it would seem that none of the interest on the new one is deductible. However, if you provide more info about the new loan, like what it was used for, the answer could change   

And see this official help article from the Canada forum...... As of 12/17/25, Though we recommend using Windows 11, the Canadian version of TurboTax Desktop 2025 will run on Windows 10. Please see this TurboTax Canada FAQ for more information: https://turbotax.community.intuit.ca/turbotax-support/en-ca/help-article/download-products/end-support-windows-10-affect-turbotax-desktop/L4v9atO3O_CA_en_CA?uid=mesv72gu   Also  you should be posting over in the CA forum.  Here is the Canada forum https://turbotax.community.intuit.ca/tax-help