Turbo Tax shows a one-half self-employment tax deduction on schedule SE, however it did not reduce my self-employment tax on form 1040. Why is that?
Why isn't it reducing the income? I am reviewing the tax return 1040 and although I see Schedule 1 reporting the health insurance and the 1/2 of SE tax, it does not compute it on the tax return.
Is schedule 1 part of the itemeized return? That doesn't make sense?
We show only $ 936 Taxable income with $$6438 of income adjustment on Schedule 1 but it doesn't reduce the taxable income nor the $1668 in SE tax.