Self-Employment Tax

auyeungn — Mon, 10 Feb 2025 07:14:36 GMT

I received 1099-MISC rental income from my property management company, why do I need to pay self-employment tax (TurboTax calculates and adds self-employment tax automatically)? I am not actively involved in the rental at all.

Re: Self-Employment Tax

JohnW152 — Mon, 10 Feb 2025 13:48:53 GMT

I believe you might have entered your information incorrectly. Rental income won't typically generate self-employment tax. To enter your this information in TurboTax Online:

Open TurboTax Online
Select Tax Home in the left pane
Select the dropdown to the right of Income & Expenses or Wages & Income
Select Pick up where you left off, Review/Edit or the edit pencil
Select Rental Properties and Royalties (Sch E) if it's near the top. If it's not, select the dropdown next to Other Common Income -- Tax refunds, 1099-G, 1099-NEC, 1099-MISC, 1099-K, then select Form 1099-MISC
Select the pencil (edit) next to the 1099 item
Make sure that your rental income is displayed in Box 1, make any other necessary entries, and select Continue. Self-employment tax won't be calculated when you take these steps

If the TurboTax Online navigation displayed above doesn't look like what you're seeing, see the TurboTax Help article Why does the TurboTax navigation menu look different for me?.

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Re: Self-Employment Tax

auyeungn — Tue, 11 Feb 2025 05:26:45 GMT

Your instructions worked. Thank you!

Re: Self-Employment Tax

auyeungn — Thu, 13 Feb 2025 10:47:11 GMT

Yes, this solved the problem. Thank you!

topic Self-Employment Tax in Investors & landlords

Self-Employment Tax

Re: Self-Employment Tax

Re: Self-Employment Tax

Re: Self-Employment Tax