ProConnect HelpIntuit HelpIntuit

Common questions on Schedule SE Self-Employment tax in Lacerte

SOLVEDby IntuitLacerte Tax75Updated July 26, 2021

How do I elect to defer self employment tax for tax year 2020?

New Part III has been added to Schedule SE to allow self-employed persons to figure a maximum amount of self-employment tax payments which may be deferred. All maximum deferral amounts will be carried to Schedule 3 (Form 1040), and the total amount that you may elect to defer may be further reduced.

To make the deferral election in Lacerte:

  1. Open the tax return.
  2. Open Screen 45.1 Self-Employment Tax (Schedule SE).
  3. Check the box for Elect to defer maximum allowed amount of Schedule SE or H taxes to 12/31/21 or 12/31/22.
  4. The Schedule SE Part III will still calculate and the deferral amount will transfer to the Schedule 3 line 12e.

Related topics:

 

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.