Schedule SE

[SueFranM]

Schedule SE, Part II, Line 10 shows self-employment tax as $512.00 (total social security amount) ; Schedule 1, Part II, Line 14 shows deductible amount as $256.00.   1040-SR, Page 3, Line 24, Shows $512.00 as the the tax due.  This should be $256  Correct??

[JohnB5677]

No, your total tax due is $512.

• On Schedule SE, Part II, you should look at line 12.  That is the total self-employment tax including both Social Security and Medicare.
• Line 13 of  Schedule SE, Part II is 1/2 of line 12.  This is because as self-employed you pay both your portion and the employer's portion of the self-employment tax.  You get a deduction for the employer portion. (This carries over to Schedule 1, Part II, Line 14).
•  Schedule 1, Part II, Line 14 is a deduction.  It reduces the amount of income that you will pay tax on.  It does not directly reduce the tax you owe.
• Finally,  1040-SR, Page 3, Line 23, correctly shows $512.00 as the the tax due.

[SueFranM]

Thank you!  After I sent the email, I realized I was having a brain cramp.   All is good.  Thanks again