Question by  nanonot (12)

Can you explain how to fill out the IRS schedule se form?


Answer by  Att4372 (1704)

Enter income from various self employed sources on lines 1 thru 3. Add these lines and multipy by 92.35%. (This deducts employer FICA tax from your income.) Line 5 - You pay 15.3% on the first $106,300 and 2.9% on amounts above that. Put this total on your 1040. Line 6 - Deduct 1/2 of line 5 from AGI.


Answer by  peach (138)

There is an instruction sheet on the irs. gov website, but basically, you account for income that you made and list out costs and expenses that it took to produce that.

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