in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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In order to remove your tax deferral, you must delete your election to defer your self-employment taxes from your tax return.
Please follow these steps in TurboTax to change your election:
@Irene2805 Thanks for the quick reply! I did the following (note, I'm using the online version):
1. Clicked on Deductions and Credits. I see the Self Employment Tax Deferral on the list.
2. I clicked on Edit/Add
3. The next screen asks, "Do you or 'spouse' want more time to pay your self-employment tax?"
4. Below the paragraph explaining the deferral, I click on No and then Continue.
5. The next Screen says that I need to put in income, deductions and estimated payments before it will determine whether I am eligible for the deferral. I've done all this. I clicked on continue.
6. I'm taken back to the Deductions and Credits screen and no changes have been made. The Deferral is still on the list along with the amount of the deferral, unchanged from step 1above.
Please see this answer from booksdrums:
I looked it up on the IRS and they said you need to put in the proportion of your income from March27-December31 to estimate eligibility for deferral (but does not require you to defer). It's on the same form as the one required for self employment taxes, so you can't get rid of it entirely. After I deleted the forms, I went back, filled in the number in that line based on the approximate proportion suggested by the IRS, and it went through.
For the rest of the post go to this LINK.
Thanks for the reply. The post you referenced contains a link back to another post, similar to mine, which is followed by 10 pages of people dealing with frustrations with this problem. I think some people were able to find a workaround by using forms view and manually making some adjustments. With the online version, which I am using, there is no access to forms view.
The problem is that when you put in the appropriate amount to determine eligibility for an optional deferral on SE tax payments, the program automatically selects the deferral for you. I'd rather pay my 2020 taxes now, rather than next year or the year after.
I believe that Irene above is pointing me to the right solution, but a glitch is not allowing me choose not to take the deferral.
Thanks again!
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