You'll need to sign in or create an account to connect with an expert.
Maybe---since you are posting from Self-Employed that means you need to pay self-employment tax for Social Security and Medicare. You have not told us anything else about your filing status, dependents (if any) etc.
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
yes. it is possible. your net Schedule C income is subject to a 14.1% net Self employment tax (see schedule SE). in addition, you're subject to income taxes on your net taxable income
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
roseadelle22
New Member
Gettxfin
Returning Member
devynschis
New Member
AugustRush1993
New Member
TD2023
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.