FICA

7 replies
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My Wife is self-employed in the sales of Realstate. I know that using Turbo Tax, the self-employment tax is figured out for me and taken out. Does Turbo Tax also take out for FICA automatically?

Thank you, David

Ask the Experts - Self-Employed - Aug 2023

maureendudleyAnswer

Level 2

I think you may be confusing terminology. For me, with TurboTax, my self-employment income goes into the total tax liability on which we pay taxes. TurboTax then also calculates my self-employment tax (Social Security) on a separate line. Does that make sense?

JBedford

Level 6

Hi, @David586 , thanks for the question!

It's true that TurboTax will calculate the self-employment tax owed on self-employment income when you file your annual tax return. I'm a little confused by your phrase "taken out", though. Since FICA is reported on a W-2 form, it will also be reflected in your tax return once you enter the W-2 into TurboTax.

Does that answer your question? Please let me know if not. Thanks!

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David586Author

Level 2

No, not exactly. Her self-employment income is on a 1099 (or 1098?) form, and nothing shows as being taken out for taxes. That's why I wonder if when filing her self-employment, if the FICA Tax as well as the self-employment Tax are taken out by TurboTax?

Thank again, David