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winkjr
Returning Member

Self-Employment Tax

On line 23 of my 20211040 return I'm see a tax amount of $150 from Schedule 2, line 21.  Where did that come from?  How do I fix it since I'm not self employed?  Where in Turbo Tax did I enter the information that calculated this amount?

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6 Replies

Self-Employment Tax

Schedule 2 line 21 is a total of Schedule 2.  Which lines on Schedule 2 are filled out?

Self-Employment Tax

Line 23 is not only from self employment tax.  It could be for a 10% Early Withdrawal Penalty from an IRA or 401K.  Or something else.  

winkjr
Returning Member

Self-Employment Tax

Line 12 on schedule 2 which comes from form 8960 line 17.

winkjr
Returning Member

Self-Employment Tax

No it wasn't early withdrawal since I haven't done that and don't need to since I'm 76.

Self-Employment Tax

If you have a lot of investment income there is an extra tax on it.

What is Form 8960

https://ttlc.intuit.com/community/forms/help/what-is-form-8960/00/26274

 

IRS info on Net Investment Income Tax

https://www.irs.gov/newsroom/questions-and-answers-on-the-net-investment-income-tax

winkjr
Returning Member

Self-Employment Tax

Thanks - Our investment income this year was just under $30K and it pushed our income just over $250K.  Thanks for the recourses.

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