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Level 1
posted Mar 1, 2024 9:23:05 AM

Do I have to pay self employment taxes if my Adjusted Gross Income comes out negative?

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1 Best answer
Expert Alumni
Mar 1, 2024 1:01:49 PM

If your self employment income is negative then you have no worries at all.

 

@SA70 

3 Replies
Level 15
Mar 1, 2024 9:24:53 AM

Yes.  Self-Employment taxes are separate from federal income taxes owed and are not based on your AGI but on your net self-employment income.

Level 1
Mar 1, 2024 9:42:44 AM

But as the religious employment is consider an uncommon situation, even if in turbotax I click on "pay self employment tax" the program puts zero automatically if the AGI is negative. Just wanted to make sure that is correct or if I have to override it. Thank you

Expert Alumni
Mar 1, 2024 1:01:49 PM

If your self employment income is negative then you have no worries at all.

 

@SA70