Schedule SE is used to report your self-employment taxes. The self employment tax form is in addition to your regular Form 1040 and business Schedule C for profit or loss.
When do you use Schedule SE?
You must fill out Schedule SE if you earned $400 or more from your self-employed position. For church employees, this amount is $108.28 or more. Your self employment is subject to self employment tax.
What is Self Employment Tax?
The self-employment tax is for independent contractors and self-employed individuals who do not get taxes taken out of their salary already. Since there is no withholding for Medicare or Social Security, you pay the self-employment tax.
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