Quote:
Originally Posted by BearMountainBooks
I thought so too, but when entering in Turbotax, it doesn't appear to be deducting any expenses from the SS owed. The half of SS payment on the 140 seems to work out correctly, but no expenses against SS. I have looked at it every possible way I can think of. I suppose I could take it to a tax person (I did that one year. The entire thing was done wrong and I had to do it again myself.)
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If you have self-employment income, you should be filing a Schedule C--that is where you take your relevant deductions. Then you fill in your net income from Schedule C on Schedule SE (which is where you figure SS tax).
Edited to add: Oops, I see I'm basically repeating information!