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Level 1

My 1040 line 27 differs from SE line 6

After doing my taxes using TT Home and Business for 2018, I noticed the amount on sched SE line 6 was way different than the amount entered on line 27 on my 1040. I don't understand why there is a difference.

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Accepted Solutions
Level 12

My 1040 line 27 differs from SE line 6

As you know, we at AnswerXchange cannot see your screen nor your tax return, but let me offer these possibilities:

1. If you use the "Short Schedule SE" form on page 1 of Schedule SE, the amount that carries to line 27 on Schedule 1 is indeed line 6 as you point out. However, if you are using the "Long Schedule SE" (on page 2 of Sch SE), then the number on line 27 of Schedule 1 comes from line 13 of Sch SE.

2. If you have more than one Sch C, then the line 27 amount on Schedule 1 is the sum of all the Sch SEs (whether line 6 or line 13, as appropriate).

1 Reply
Level 12

My 1040 line 27 differs from SE line 6

As you know, we at AnswerXchange cannot see your screen nor your tax return, but let me offer these possibilities:

1. If you use the "Short Schedule SE" form on page 1 of Schedule SE, the amount that carries to line 27 on Schedule 1 is indeed line 6 as you point out. However, if you are using the "Long Schedule SE" (on page 2 of Sch SE), then the number on line 27 of Schedule 1 comes from line 13 of Sch SE.

2. If you have more than one Sch C, then the line 27 amount on Schedule 1 is the sum of all the Sch SEs (whether line 6 or line 13, as appropriate).