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New Member
posted Feb 27, 2021 12:46:04 PM

Am I suppose to pay tax with Nonemployee income $14,221

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2 Replies
Level 15
Feb 27, 2021 12:49:01 PM

Yes, self employment tax.  Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400).  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  

 

The self employment tax is in addition to any regular tax you might owe.

 

 

Returning Member
Feb 27, 2021 1:13:04 PM

Need help with federal review to finish, it's telling me to remove link that does not apply I can't proceed from this situation. m # is [removed] e-mail is [email address removed] thx.