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Cyndi54
New Member

Can I claim the self-employment taxes I paid in 2020 as a business expense (under Taxes

 
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1 Reply
Vanessa A
Expert Alumni

Can I claim the self-employment taxes I paid in 2020 as a business expense (under Taxes

No, your self employment taxes are not deductible as a business expense.  You do however, get a deduction for 1/2 of your self-employment taxes in the year that you file the return.  So for this year, if you are self-employed and have $5,000 in SE taxes due you would get a deduction of $2,500.

 

You can see this on line 23 of your 1040 or on your Schedule 2 which you can view by clicking the following:

 

 

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