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stevenreadhicks
New Member

Self employment tax calculation

I am selecting to have my self employment tax be calculated against my wages and housing, however it doesn't appear that the system is making that calculation correctly. Help!
1 Best answer

Accepted Solutions
DianeW
Expert Alumni

Self employment tax calculation

There is an issue in TurboTax online that affects some customers.  The choice to pay SE tax on "both" wages and housing does not "stick" and the program calculates SE tax on wages only.  This is a bit difficult to diagnose because the tax forms are hidden with TurboTax online until you pay the fee.  

  • You can go to My Account >Tools >Tax summary > Preview my 1040, and see if line 57 (SE tax) is 15% of your wages plus housing, or only 15% of your wages (approximate).  

Some customers have reported that deleting the W-2 and entering it again fixes the problem.  If not, the only other fix is to use TurboTax desktop version installed on your own computer from a CD or downloadable installer.  You can buy direct from TurboTax or from Amazon or Staples for a little bit cheaper.  You can also transfer your partial tax file from TurboTax online to the desktop version so you can pick up where you left off without starting from scratch.

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1 Reply
DianeW
Expert Alumni

Self employment tax calculation

There is an issue in TurboTax online that affects some customers.  The choice to pay SE tax on "both" wages and housing does not "stick" and the program calculates SE tax on wages only.  This is a bit difficult to diagnose because the tax forms are hidden with TurboTax online until you pay the fee.  

  • You can go to My Account >Tools >Tax summary > Preview my 1040, and see if line 57 (SE tax) is 15% of your wages plus housing, or only 15% of your wages (approximate).  

Some customers have reported that deleting the W-2 and entering it again fixes the problem.  If not, the only other fix is to use TurboTax desktop version installed on your own computer from a CD or downloadable installer.  You can buy direct from TurboTax or from Amazon or Staples for a little bit cheaper.  You can also transfer your partial tax file from TurboTax online to the desktop version so you can pick up where you left off without starting from scratch.

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