Who Fills out IRS Form 1040 Schedule SE?
The Internal Revenue Service expects taxpayers to file Schedule SE along with Form 1040 if:
- The taxpayer received net earnings exceeding $400 from self-employment (other than church employee income);
- The taxpayer received church employee income of $108.28 or more, other than from services performed as a minister or a member of a religious order.
What is the Purpose of Schedule SE?
Form 1040 Schedule SE aims to help taxpayers calculate the tax due on net earnings from self-employment. The Social Security Administration needs information requested on the Schedule SE form to establish the taxpayer’s social security benefits.
Is Schedule SE Accompanied by any other Forms?
The Schedule serves as an attachment to the primary tax return Form 1040 or 1040NR and must be filed together with either document.
When is Schedule SE Due?
The deadline for Schedule SE submission coincides with the primary form’s due date it accompanies: Form 1040 or 1040NR. Therefore, the due date is April 18th, 2017.
How do I Fill out Form 1040 Schedule SE?
In the first place, to properly fill out the Self-Employment Tax Form, the filer must provide their name and SSN.
The Form actually contains two options, with only one to be filed: the short form and long form. To make it easier to decide which one is appropriate, there is a flowchart representing the taxpayer’s circumstances. Depending upon whether short or long form is applicable, the filler must complete only the first or the second pages of Schedule SE.
The information requested varies, but all the fields to be written in are explained on the form itself and in the instruction.
Where do I Submit the Filled out Schedule SE?
Together with the primary tax return, form Schedule SE must be delivered to the local IRS office.