schedule SE

Forum|Forum|5 years ago
March 26, 2021
3 replies
29 views

I am using ProSeries to prepare income tax, and I am realizing there is an update for schedule SE about maximum deferral of self-employment tax payment. My question is I don't want to defer any taxes, but there is an error in line 18 (portion of income attributed to 3/27/2020-12/31/2020). In this situation, can I enter 0 even though my income was earned during this period? Thanks.

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TAXOH

Level 10

Yes, just enter 0.

T

TaxGuyBill

I enter an amount there, but then I go to Line 12 of Schedule 3 to change the worksheet to zero.

D

David40yrs

Level 2

If your client has an amount eligible to defer, and client does not want to defer or wants to defer less than the max, open Sch 3, go to Pt 2, line 12e. Then click the quick zoom on that block. this will take you to yet another 1040 worksheet. Just above where the cursor lands you will see a place to change the amount to defer (a box colored brownish yellow). If the client cannot defer then there is nothing to do and if you put in an amount PS will tell you the amount is too much. 40 years of this and I hate it more every year but it is what it is, as they say.

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