I am self employed. Line 2 of Section B—Long Schedule SE Part I Self-Employment Tax is doubling my reported Soc Sec Wages. Any reason turbo tax is doubling my income?
The doubling of my income is causing line 57 and 62 of my 1040 to be wrong. First because it doubles my Soc Sec Wages in the Schedule SE it causes my owed Self employment tax to be 2x what it should be. Also given this 2x means I exceeded the Medicare cap of 250k I also have to pay tax on line 62.