I earned more than $6000 dollars last year and most of it are from my Amazon Flex Delivery/Rideshare Driver income(1099K/1099 NEC) and I already filed my taxes. Will I be getting the 4 credits from Social Security based on that income? I am afraid I might not be able to get it because I did not pay social security, or did I pay? I am really confused if I made payment to Social security based on my ITR. Please help and thank you
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If you included that income on Schedule C with your Form 1040 tax return, yes, you will receive credit for social security. Check your tax return, Schedule 2 - Line 4. That is your self-employment tax, which includes your share of social security and Medicare taxes to be credited to your account.
I cannot find the Schedule 2 line 4 on my tax return unfortunately. I can only see schedule 1 . Yes I included that income on my Schedule C. My tax return was filed and I got my refund already. I really want my credits from social security and if I have to do an amendment I really want guidance from TurboTax on this one considering I did my taxes thru them. Thank you!
If you claimed expenses against your rideshare income, you may not have paid any self-employment tax, and may not get any credits for Social Security.
You can check your Schedule C. If line 31, net income, is more than $400, you paid at least some self-employment tax.
As far as Social Security credits, you must earn $6,560 for 2023, or $6,920 for 2024 to get the maximum 4 credits for the year.
Line 31 on Schedule C shows an amount of $5962, short of the $6560 for 2023. Is there a remedy for that? Can I do an amendment just to correct it and hopefully bring it up to amount that would provide me a credit? Can TurboTax assist me on this please? Thank you!
No. You cannot make adjustments to inaccurately manipulate your income. You must report all income and all expenses as a self-employed individual. So, if your original return reported all income and all expenses, then you cannot amend your return.
That’s too bad for me. I wish Turbo Tax warned me about those things before I submitted my ITR so I could have corrected it. Thank you anyway!
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