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No. Line 14 is for taxpayers using the Farm Optional Method. Self-employed persons can use the Nonfarm Optional Method.
If the net nonfarm income was less than $5,891 and less than 72.189% of gross nonfarm income, you may choose the nonfarm optional method to figure the self-employment tax. The taxpayer may not use this method more than five times and net self-employment income must have been $400 or more for at least two out of the last three years prior to this year.
I have the same problem with a figure of $5,640 showing up under Schedule SE Part II line 14. This is for Farm Optional Method and I do not have a farm. I checked all my responses to make sure I had not indicated anywhere that I had farm income and I didn't. The reply here by the expert does not address that this should not be there and how to remove it.
HOW CAN THIS AMOUNT BE REMOVED FROM SCHEDULE SE? Does it impact any of the other calculations on this schedule or the return?
2020 Schedule SE line 7 $137,700 and Part II line 14 $5,640 are prefilled amounts. Line 7 is the max amount subject to Social Security Tax. If your total W2 and SE income is more than that you don't pay SS tax on the amount over $137,700. If your income is less then box 7 doesn't figure into it.
See it's even on the blank IRS SE form
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