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Level 1
February 2, 2021
Question

SE tax deferral

  • February 2, 2021
  • 1 reply
  • 5 views

Self-employed taxpayer with income in 2020. Taxpayer wishes to pay full amount of SE tax due rather than defer until 2021. Is there a checkbox for this or do I need to enter $0 earnings after March (even though this is not correct) or ??

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1 reply

Level 15
February 2, 2021

I use ProSeries, so I'm not quite sure of the exact mechanisms in PTO, but I think the proper way to do it is to leave the amount on Schedule SE, but then go to Line 12e of Schedule 3 to change it to no deferral.