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QLJuanLopez
Level 2

Self Employment Taxes Not calculated by Turbo Tax

I have used TT since the mid 90's.  Reviewing my Social Security statement of account, it shows on my earnings record that I have no SE taxes on 2013, 2017, 2018, 2019.

 

I have been self employed since 1996.  I never looked in detail at the return prepared by TT but checking now, there is no SE tax calculated.  Seems to be an error of the software or perhaps how I coded in my information.

 

I appreciate feedback.  !

1 Best answer

Accepted Solutions
Critter-3
Level 15

Self Employment Taxes Not calculated by Turbo Tax

Now you know the root of your situation and where to get it corrected. Box 14 must indicate how much of box one is considered self-employment so Ask the issuer of the K-1 why there is nothing in box 14. A corrected K-1 must be issued by the partnership.

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8 Replies
VolvoGirl
Level 15

Self Employment Taxes Not calculated by Turbo Tax

Did you have a Net Profit on Schedule C for those years?   You need a Net Profit of $400 or more to pay self employment tax.  Did you enter your income on Schedule C or just as Other Income?  What 1040 lines does your self employment  income show up on?

QLJuanLopez
Level 2

Self Employment Taxes Not calculated by Turbo Tax

Thanks for taking the time to look at my concern.

 

To your question: It is on line 6 (Line 17 on Schedule 1  since it is income from a partnership).

VolvoGirl
Level 15

Self Employment Taxes Not calculated by Turbo Tax

Oh, I don't know partnerships very well, just Schedule C .   I assume you entered a K-1?  Someone else will have to help.   
@Critter-3 ?

QLJuanLopez
Level 2

Self Employment Taxes Not calculated by Turbo Tax

Correct, I entered a K1 (1065).  Thanks much for your time!

Critter-3
Level 15

Self Employment Taxes Not calculated by Turbo Tax

Look at box 1 & 14 on the K-1 form… what numbers & codes are there?

QLJuanLopez
Level 2

Self Employment Taxes Not calculated by Turbo Tax

I see...  Box 1 Ordinary Income has $$$

 

Box 14 is empty........  That is how i got it from my partnership.

 

hum.................

Critter-3
Level 15

Self Employment Taxes Not calculated by Turbo Tax

Now you know the root of your situation and where to get it corrected. Box 14 must indicate how much of box one is considered self-employment so Ask the issuer of the K-1 why there is nothing in box 14. A corrected K-1 must be issued by the partnership.

QLJuanLopez
Level 2

Self Employment Taxes Not calculated by Turbo Tax

Thanks much!

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