Did Turbotax apply the self-employment tax deduction for me as a minister? Thanks.

Forum|Forum|7 years ago
June 5, 2019
3 replies
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TurboTax Self Employed Online

Opus 17

Level 15

There's no SE tax deduction for minister. Your wages plus the value of your housing allowance or fair rental value of parsonage are subject to SE tax. SE tax is always calculated with a 7.65% deduction (it is 15.3% of 92.35% of your income). This calculation applies to all self-employed persons, not just ministers.

Or did you have a different question?

ttsf17-Author

Level 2

Thanks. Quoting from IRS Pub. 517, it says "You can deduct one-half of your SE tax in figuring adjusted gross income. This is an income tax deduction only, on Form 1040, line 27." I'm trying to figure out if the TurboTax online has included this for me.

Opus 17

Level 15

Yes, that's part of the SE tax calculation for everyone. When you are ready to file, if you pay your online fees with a credit card, you can print your return to review before you actually file. That calculation will be on schedule SE.