CALULATING THE SE DEFERRAL OF SELF-EMPLOYMENT TAX PAYMENTS???

Forum|Forum|5 years ago
February 3, 2021
8 replies
45 views

WILL SOMEONE PLEASE EXPLAIN TO ME WHY IS IT GIVING ME AN ERROR ON LINE 18 OF THE SE FORM TO CALULATE THE PORTION ON LINE 3 THAT CAN BE ATTRIBUTED TO MARCH 27TH- DEC.

IS THIS FOR ESTIMATED TAX PAYMENTS? IS IT A CREDIT FOR SELF EMYLOYED PEOPLE TO OFF-SET THE PORTION OF SELF EMPLYMENT TAX? PLEASE HELP!

HOW WOULD I KNOW WHAT INCOME IS AFTER MARCH? SOME CLIENTS JUST GIVE ME SPREED SHEETS OF TOTALS.

THANKS!!

ProSeries Basic

This topic has been closed for replies.

L

linette

Level 6

Taxpayers can defer payment of their ss tax and ProSeries I believe put this in as an error message so you consider it.

If you put a zero in the box -- Defer nothing and pay everything now -- it will solve the problem.

Otherwise review and advise client accordingly and enter the amount that they wish to defer.

HOGANTAXESAuthor

Level 5

THANK YOU! WHERE CAN I GET MORE INFO ON THE TOPIC? I HAVE BEEN PUTTING ZERO FOR EVERYONE BUT DIDNT WANT TO CHEAT MY CLIENT. CAN YOU FURTHER EXPLAIN WHAT HAPPENS WHEN ITS DEFERED?

sjrcpa

Level 15

They pay it next year.

Look it up on irs.gov

The more I know the more I don’t know.

Sign up

Login with SSO

Let's get you signed in

Login with SSO