I'm using TurboTax Home & Business for the second time, now for 2021.
Last year we deferred the employer's portion of our 2020 self-employment taxes (to be paid 31 December 2021 and 2022).
Now in preparing 2021 return, in Personal > Deductions & Credits > Tax relief related to COVID-19, I see mention of "deferral of self-employment tax." Yet it's not mentioned as any of the three sections noted below it. If I choose to Visit All, nothing in there says anything about deferred SE taxes at all. It's just silent on the topic.
Frankly, in preparing my 2021 return, I don't know why it would matter whether I deferred 2020 SE taxes. It seems irrelevant. But I don't know that, and I don't know what I don't know. That's why I use TurboTax: maybe TurboTax knows something I don't. But if it knows something about this, it's not telling me.
Is there something TurboTax is actually trying to tell me here? Are my 2020 deferred taxes somehow relevant to my 2021 tax return? If so, how can I get to that? Can it be found somewhere in forms? Or is this all a mistake; maybe an anachronism leftover from 2020?
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@beanorama wrote:
Or is this all a mistake; maybe an anachronism leftover from 2020?
That's exactly what it is. It's a description that should have been updated for 2021 but was overlooked. The phrase "and deferral of self-employment tax" should have been deleted. You do not enter anything about the deferred 2020 tax in your 2021 tax return. That's why you can't find anything about it in the interview topics. There is no place for it on the forms.
@beanorama wrote:
Or is this all a mistake; maybe an anachronism leftover from 2020?
That's exactly what it is. It's a description that should have been updated for 2021 but was overlooked. The phrase "and deferral of self-employment tax" should have been deleted. You do not enter anything about the deferred 2020 tax in your 2021 tax return. That's why you can't find anything about it in the interview topics. There is no place for it on the forms.
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