I have a W-2 with $627. reported in Block 7. When I reviewed the resulting return, I had $77. in other taxes reported on line 23 Form 1040 as self-employment tax.
I had corrections to make on the Turbo Tax entries, which did not change the $627. entry. However, the $77 disappeared after the unrelated corrections.
Question: Is the initial recording of a $77 SE tax correct? If so, how do I get the $77 entry back on the return?
Please advise,
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You don't owe self-employment tax on box 7 (social security tips). The SE tax was generated from something else on your return.
You don't owe self-employment tax on box 7 (social security tips). The SE tax was generated from something else on your return.
Thanks for the quick response. I agree with your answer.
I was able to confirm your answer, by adding the W-2 Social security wages (block 3) and block 7 amount together, and multiplying the sum by .062; producing a product equal to Social security withheld in block 4.
The original $77 self employment tax remains an unknown factor, and most appropriately gone.
Best Regards.
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