topic Re: Should I do the non farm optional method? in Get your taxes done using TurboTax

Should I do the non farm optional method?

annh89 — Thu, 13 Mar 2025 13:56:02 GMT

I can't find anyone who knows what this is. I had < $7493 S E income last year & TT asked if I want to use the non farm optional method to adjust S E tax. There is no farm income. Is this a good idea both for now and in the future?

Re: Should I do the non farm optional method?

RobertB4444 — Thu, 13 Mar 2025 18:23:17 GMT

The non-farm optional method is a lower tax on self-employed earnings as long as they are below $7,493 and less than 72.189% of your gross (non-farm) income.

So if you can take advantage of it you should. However, you can only do it for five years (the years don't have to be consecutive).

@annh89