turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

beccaviol
New Member

If my w-2 income was already over the social security limit do I also pay self-employment tax on my self-employment income?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

If my w-2 income was already over the social security limit do I also pay self-employment tax on my self-employment income?

No once you hit the cap on Social Security with the wages, that will be entered by TurboTax in the Self-employment tax computation.

EDITED: 2-1-2018 3:40 PM (CST) 

Attached is the link to SE computation form: https://www.irs.gov/pub/irs-pdf/f1040sse.pdf

Notice Sch B: part 1, line 8a this is where the wages will be.  It is social security only that stops and medicare tax continues as mentioned in the comment. 

If my w-2 income was already over the social security limit do I also pay self-employment tax on my self-employment income?

But you will still have Medicare taxes on it.

If my w-2 income was already over the social security limit do I also pay self-employment tax on my self-employment income?

Yes that is correct.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question