3528213
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,
You'll need to sign in or create an account to connect with an expert.
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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
lmw91881
New Member
ikjwoods
New Member
pdunamis
New Member
sakilee0209
Level 2
rmm
New Member