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Yes when you enter your self-employment income, TT will calculate the amount you owe for SS and Medicare.
Yes when you enter your self-employment income, TT will calculate the amount you owe for SS and Medicare.
Of the full 12.4% that self-employed are expected to pay, there is supposed to be a write-off for half. Does the software automatically calculate a write off for 6.2%?
Yes. You get to take off the 50% ER portion of the SE tax as an adjustment on 1040 Schedule 1 line 15 which flows to 1040 line 10.
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