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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1040 (1040-SR) Schedule SE
for the current year.
IRS Form 1040 (1040-SR) Schedule SE Self-employment Tax
What Is IRS Form 1040 (1040-SR) Schedule SE?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 1040, and IRS Form 1040-SR. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1040?A: IRS Form 1040 is the standard individual income tax return form used by US taxpayers to report their annual income and calculate their tax liability.
Q: What is IRS Form 1040-SR?A: IRS Form 1040-SR is a simplified version of Form 1040 specifically designed for taxpayers aged 65 or older.
Q: What is Schedule SE?A: Schedule SE is a tax form used to calculate and report self-employment taxes, including Social Security and Medicare taxes, for individuals who have net earnings from self-employment.
Q: Who needs to file Schedule SE?A: Individuals who have self-employment income of $400 or more during the year are generally required to file Schedule SE.
Q: What is self-employment tax?A: Self-employment tax is a tax on income from self-employment activities, including income earned as a sole proprietor or independent contractor. It is used to fund Social Security and Medicare programs.
Q: How do I calculate self-employment tax?A: To calculate self-employment tax, you need to multiply your net earnings from self-employment by the self-employment tax rate, which is currently 15.3%.
Q: What expenses can be deducted against self-employment income?A: Self-employed individuals can deduct a variety of business expenses, including office supplies, travel expenses, and health insurance premiums, among others.
Q: Can I use Schedule SE if I have regular employment income?A: No, Schedule SE is specifically for reporting self-employment income. If you have regular employment income, you will report your taxes on IRS Form 1040 or 1040-SR.
Q: When is the deadline to file IRS Form 1040 and Schedule SE?A: The deadline to file IRS Form 1040 and Schedule SE is generally April 15th of each year. However, the deadline may be extended in certain situations or if you file for an extension.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1040 (1040-SR) Schedule SE through the link below{class="scroll_to"} or browse more documents in our library of IRS Forms.
Download IRS Form 1040 (1040-SR) Schedule SE Self-employment Tax
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