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Why is a value showing up on my Schedule SE "Farm Optional Method" line even though I did not claim any farm expenses or income?

 
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4 Replies
AmyC
Expert Alumni

Why is a value showing up on my Schedule SE "Farm Optional Method" line even though I did not claim any farm expenses or income?

Do you  mean line 14 for $5,640? That number is a part of the form, maximum income for optional methods. No worries.

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lilmarsh21
Returning Member

Why is a value showing up on my Schedule SE "Farm Optional Method" line even though I did not claim any farm expenses or income?

I'm having the same issue.  Under the Turbo Tax review it wants me to type in

line 22.  Enter the portion of line 5a that can be attributed to March 27, 2020,

through December 31, 2020
 
If I keep it at 0.  It then proceeds to 
 
line 18. Enter the portion of line 3 that can be attributed to March 27, 2020,
through December 31, 2020
 
If I keep that on Zero it then proceeds to 
 
line 20.  Enter the portion of lines 15 and 17 that can be attributed to March 27,
2020, through December 31, 2020
 
Your saying its perfectly normal for line 14 to be $5640 even though I have nothing to do with a farm?  This is very confusing and needs to be fixed.  Should I just keep everything else at 0 then?
lilmarsh21
Returning Member

Why is a value showing up on my Schedule SE "Farm Optional Method" line even though I did not claim any farm expenses or income?

Keep lines 22 18 and 20 zero?

JamesG1
Expert Alumni

Why is a value showing up on my Schedule SE "Farm Optional Method" line even though I did not claim any farm expenses or income?

Are you referring to the entry '5,640' on Part II line 14 of the IRS Form SE?  This amount is pre-printed on the IRS form.

 

IRS Form SE Part III computes the Maximum Deferral of Self-Employment Tax Payments.  Did you intentionally or unintentionally select the Self-Employment Tax Deferral?

 

In TurboTax Online Self-Employed, I was able to remove Self-Employment Tax Deferral and pass Review.  Follow these steps. 

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, click on Deductions  & credits.
  • Under Your tax breaks, scroll down to Self-employment tax deferral.
  • Click on Edit/Add to the right of Self-employment tax deferral.
  • At the screen Do you want more time to pay your self-employment tax?, click Yes.
  • At the screen Let's start by getting your eligible income, I have left the dollar amount that was previously entered, others change this amount to $0.
  • Click on Continue.
  • At the screen Tell us how much you'd like to defer, delete the dollar amount.
  • Click Continue.
  • Click through Federal Review to make sure than the Review issue has been removed.
  • At the screen Some of your self-employment taxes may be eligible, click Skip.

@lilmarsh21

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