Does anyone know how to find out what the max deferral line 18 should be for Sch SE-T. It says it's under Part III Maximum Deferral of Self-Employment Tax Payments

A new Part III of Schedule SE, Self-Employment Tax allows self-employed individuals to compute a "maximum amount" of self-employment tax payments that can be deferred. 

Line 18 requires taxpayers choosing this deferral to make a reasonable computation of their self-employment income made from March 27, 2020, through December 31, 2020. 

The instructions for Line 18 are very vague, but also open-ended, allowing you to use any reasonable method to calculate the amount:

 

Use any reasonable method to divide the net profit or (loss) you reported on line 3 between (a) January 1, 2020, through March 26, 2020, and (b) March 27, 2020, through December 31, 2020. A reasonable method will accurately reflect the time when income was earned or accrued and deductible expenses were paid or incurred, depending on your method of accounting. In most cases, a proportional division of the amount reported on line 3 based upon the number of days in each period will be considered reasonable.

 

Please see the instructions for Line 18 of Schedule SE in the IRS's 2020 Instructions for Schedule SE for more guidance.

Self-employed taxpayers are allowed to pay 50% of Social Security tax on net earnings from self-employment for the period March 27, 2020 through December 31, 2020.  The deferred amount will be paid 50% in 2021, and the rest in 2022.

What if I am not deferring any taxes. I am paying them by 4/15.

You are not required to defer any portion of your self-employment tax payments.  See this IRS FAQ.

 

 

To remove a self-employment tax deferral in TurboTax Online Self-Employed, follow these steps: 

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Deductions  & credits.
• Under Your tax breaks, scroll down to Self-employment tax deferral.
• Click on Edit/Add to the right of Self-employment tax deferral.
• At the screen Do you want more time to pay your self-employment tax?, click Yes.
• At the screen Let's start by getting your eligible income, I have left the dollar amount that was previously entered, others change this amount to $0.
• Click on Continue.
• At the screen Tell us how much you'd like to defer, change the dollar amount to $0.
• Click Continue.
• Click through Federal Review to make sure than the Review issue has been removed.
• At the screen Some of your self-employment taxes may be eligible, click Skip.