Clicker
Well-Known Member
- First Name
- Jerry
- Joined
- Jun 20, 2021
- Threads
- 16
- Messages
- 111
- Reaction score
- 212
- Location
- Zephyrhills, Florida
- Vehicles
- Mustang Mach e
- Occupation
- Retired
- Thread starter
- #1
So in doing my 2021 Turbo Tax Home and Business return I got a disappointing surprise. Apparently the credit is only good for income tax owed and does not apply to the self employment (social security) portion of the taxes you owe. Turbo Tax said I was eligible for a $7500 credit but it actually deducted $683 from income tax owed. No effect on self employment tax. What a bummer that was to find out. For those of you who have this situation sorry to be the bearer of bad news.
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