Social Security Tax Paid as Single Proprietor LLC

[Rob Tu]

as a single proprietor LLC, I paid  (via estimated taxes) 12.4% (6.2% rate times 2) to cover the social security taxes owed.  I'm trying to determine where on Schedule C or my 1040 do I get credit for 50% of the social security that I paid since I have no employees.

Thanks 

Rob

[Anonymous_]

That one-half is deducted on Schedule SE and then carried over to Schedule 1 of your 1040.

If you are using TurboTax Self-Employed or Home & Business, the program will handle the calculation and entry for you.

[TomD8]

Line 14 of Schedule 1 shows the deductible portion of your SE tax.

https://www.irs.gov/pub/irs-pdf/f1040s1.pdf

[Rob Tu]

thank you very much.  Do you know how/where I'd enter that in Turbo Tax?

[Anonymous_]

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@Rob Tu wrote:

thank you very much.  Do you know how/where I'd enter that in Turbo Tax?

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When you enter business income in the Business Income and Expenses section of TurboTax, the program will calculate the SE tax (and one-half deduction) for you and the figures will be entered on the related schedules.

[Rob Tu]

thank you.  Do you know why the credit isn't 6.2% of the LLC income?  It's considerably less.  I paid estimated tax of 12.4% on the estimated income a the time and was thinking I'd get 50% of that amount back