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How is line 7 calculated on the self employment tax page? I don’t pay into a railroad retirement?

 
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DaveF1006
Expert Alumni

How is line 7 calculated on the self employment tax page? I don’t pay into a railroad retirement?

Line 7 is a maximum amount of SE earnings that SE tax tax can be calculated. This can be a combination of self-employment earnings subject to social security tax or the 6.2% portion of the 7.65% railroad retirement (tier 1) tax for 2024. Since you don't have railroad retirement, this maximum amount is strictly based on self-employment earnings.

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