Self employment tax

[kieferch84]

Hi, I work currently as a seasonal golf caddy. I was wondering which is the best turbo tax product for that. I create the 1099 myself and am wondering if self employment tax is calculated on gross income or gross income less self employment heath insurance deduction being I pay 100% of my premiums. I ask only bc that line was blank on my return last year. Also as a golf caddy should i be paying self employment tax? Thanks!

[Vanessa A]

I was wondering which is the best turbo tax product for that. If you are self-employed you can either use TurboTax Premier online or TurboTax Home and Business desktop

 I create the 1099 myself . You would only create a 1099 if you are paying someone else from your business.  So, if you are the top caddy and you sub other people to caddy for some of your clients when you are overbooked, then you would issue a 1099-NEC to them.  You would not issue one to yourself. 

and am wondering if self employment tax is calculated on gross income or gross income less self employment heath insurance deduction being I pay 100% of my premiums  Self employment tax is calculated on Net profit after all expenses including health insurance. 

I ask only bc that line was blank on my return last year. Also as a golf caddy should i be paying self employment tax?  Yes, you should be paying quarterly self-employment taxes based on your income each quarter. 

The Self-Employment Tax

IRS Self-Employment Tax

[dmertz]

"am wondering if self employment tax is calculated on gross income or gross income less self employment heath insurance deduction being I pay 100% of my premiums."

The amount paid for self-employed health insurance is a deduction on Schedule 1, not a business expense that is reportable on Schedule C.  Because it is not reportable on Schedule C, the amount that you pay for self-employed health insurance does not reduce the net profit on which self-employment tax is determined.