IRS 1040 - Schedule SE 2012 free printable template

For Paperwork Reduction Act Notice see your tax return instructions. Cat. No. 11358Z 1b Schedule SE Form 1040 2012 Page 2 Attachment Sequence No. 17 Section B Long Schedule SE Part I Note. May I Use Short Schedule SE or Must I Use Long Schedule SE Note. Use this flowchart only if you must file Schedule SE. If unsure see Who Must File Schedule SE in the instructions. Did you receive wages or tips in 2012 No Yes Are you a minister member of a religious order or Christian Science practitioner...

How to fill out 2012 schedule se form

How to fill out 2012 schedule se form:

1. Start by providing your personal information, such as your name, address, and social security number.
2. Next, report your net farm profit or loss for the year in Part I.
3. Fill out Part II if you had any self-employment income from sources other than farming.
4. In Part III, calculate your self-employment tax using the provided instructions and worksheets.
5. Report any additional taxes or credits in Part IV, if applicable.
6. Complete the rest of the form by following the instructions and filling in the necessary information.

Who needs 2012 schedule se form:

1. Individuals who operated a farm or engaged in self-employment during the tax year 2012.
2. Those who had net farm profit or loss or earned self-employment income from other sources.
3. Business owners who are subject to self-employment tax and need to report it on their tax return.

Note: It is important to consult the official instructions and guidelines provided by the IRS or a qualified tax professional to accurately complete the 2012 Schedule SE form.

• What is the Schedule SE?
• Who Fills out 1040 Schedule SE Tax Form?
• Do any other Forms Accompany Schedule SE Tax Form?
• • When is Schedule SE Due?
  • How do I Fill out Form 1040 Schedule SE?
  • Where do I Submit the Filled out Schedule SE Form?

What is the Schedule SE?

Form 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.

Who Fills out 1040 Schedule SE Tax Form?

The Internal Revenue Service expects taxpayers to file the report 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.

An exception to filing Schedule SE: If you filed Form 4029 or Form 4361 and received IRS approval, you may not need to file Schedule SE.

Do any other Forms Accompany Schedule SE Tax Form?

This report 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, most Americans must file their federal tax returns for the 2012 tax year by April 18, 2013.

How do I Fill out Form 1040 Schedule SE?

The filer should get familiar with the document and prepare the required data to fill out the Self-Employment Tax Form. You can quickly download the fillable template from our website and review it online.

The document contains two options, with only one to be filed: a short and long version. A flowchart represents the taxpayer's circumstances to help decide which one is appropriate. You should complete only Schedule SE's first or second pages, whether a short or long copy is applicable.

The requested information varies, but all the fields include explanations on the form and in the Schedule SE Instructions.

Where do I Submit the Filled out Schedule SE Form?

You should deliver Form Schedule SE to the local IRS office with the primary tax return.

Instructions and Help about 2012 schedule se form

Laws dot-com legal forms guide self-employment tax Schedule S II the flowchart in this form will inform you of whether you can elect to fill out the short schedule SE or the long spiritual SE step one if you're self-employed you need to fill out the form if you make four hundred dollars or more if you're a church employee you need to fill out the form if you made one hundred eight dollars and 28 cents or more in most cases you'll have to fill out this form if you're a minister or member of a religious order however if you file form forty-three sixty-one and received IRS approval you're exempt from the SE tax refer to pages SE one through SE three in the following guide for more information on self-employed professions step 2 online one B of the short or long version enter the total amount of your taxable CR P payments if you're receiving Social Security retirement or disability benefits at the time you received your CR P payments the payments are included on Schedule F line for B or on form 1065 box 20 code y step 3 if line four on the short version is less than four hundred dollars you have an amount on line one be combined lines one a and two if the total on lines one a and two is four hundred thirty-four dollars or more file this form with your tax return and enter zero uniform 1040 line 56 or form 1040 and our line 54 if lines 1a and two is less than four hundred thirty-four dollars do not file Schedule SE unless you have an optional method for figuring out your SE tax step 4 if both lines for a and for C on the long version are less than four hundred dollars and there is an amount on line 1 B combine lines one a and two if the total amount on lines one and two is four hundred thirty-four dollars or more file this form with your tax return enter zero on form 1040 line 56 and complete lines 5a and 5b if you have Church employee income if the total of lines 1a and two is less than four hundred thirty-four dollars do not file this form unless you choose another method for calculating your SE tax Step five for specific instructions on net earning form self-employment regard pages s III through SE five in the instructional guide to watch more videos please make sure to visit laws com

What is schedule se form 1040?

Use Schedule SE (Form 1040) to figure the tax due on net earnings from self-employment. ... This tax applies no matter how old you are and even if you are already getting social security or Medicare benefits.

People Also Ask about 2012 schedule se form

Who files a Schedule SE tax form?

Self-Employed Persons You must pay SE tax if you had net earnings of $400 or more as a self-employed person. If you are in business (farm or nonfarm) for yourself, you are self-employed. You must also pay SE tax on your share of certain partnership income and your guaranteed payments.

What is schedule SE for self-employed?

Schedule SE is the form you use to determine the amount of tax you owe to the IRS on your self-employment income. For clarity, a schedule is just an extra sheet you may need to fill out in addition to your Form 1040 for certain specific types of income or deductions.

Do independent contractors file Schedule SE?

Independent contractors report their income on Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship). Also file Schedule SE (Form 1040), Self-Employment Tax if net earnings from self-employment are $400 or more.

What is Schedule C and Schedule SE forms?

Self-Employment Taxes The net income information on Schedule C is used to determine the amount of self-employment tax you owe for Social Security and Medicare taxes. Schedule SE is used to calculate the self-employment tax amount.

Is Schedule SE short or long form?

The Short Schedule SE is about half of a page long. The Long Schedule SE is one full page and allows you to use optional calculation methods. Only fill out the necessary section of the self-employment tax schedule.

What is a schedule SE form?

Use Schedule SE (Form 1040) to figure the tax due on net earnings from self-employment. The Social Security Administration uses the information from Schedule SE to figure your benefits under the social security program.

For pdfFiller’s FAQs

What is schedule se form?

Schedule SE is a tax form used by self-employed individuals to calculate and report their self-employment tax. Self-employment tax is the Social Security and Medicare tax paid by individuals who work for themselves, and it is used to fund these programs. The Schedule SE form allows self-employed individuals to determine the amount of self-employment tax they owe based on their net earnings from self-employment.

Who is required to file schedule se form?

Individuals who have self-employment income of $400 or more are required to file Schedule SE with their tax return.

How to fill out schedule se form?

To fill out Schedule SE Form, you'll need to follow these steps: 1. Gather necessary information: Collect all the required documentation and information, including your Social Security number, income and deductions related to self-employment, and any additional forms or schedules that may be needed. 2. Determine your self-employment income: Report the total income earned from your self-employment activities on Line 2. This includes any income received as a sole proprietor, partner in a partnership, or as a member of a limited liability company (LLC). 3. Calculate net profit or loss: Subtract your deductible business expenses (Line 4) from your self-employment income (Line 2) to determine your net profit or loss from self-employment (Line 6). If you have a net profit, proceed to Step 4. If you have a net loss, skip to Step 5. 4. Calculate Self-Employment taxes: Multiply your net profit from self-employment (Line 6) by the self-employment tax rate (currently 15.3%) to calculate your self-employment tax (Line 8). 5. Report net loss: If you have a net loss, you may not owe self-employment tax. Enter zero on Line 8 and proceed to Step 6. 6. Calculate deductible half of self-employment tax: Multiply Line 8 by 0.5 to determine the deductible portion of your self-employment tax (Line 10). 7. Complete the rest of the form: Follow the remaining instructions on the form to complete the rest of the required information, such as your personal details, address, and any credits or deductions you may be eligible for. 8. Transfer the information to your Form 1040: Once you have completed Schedule SE, transfer the total self-employment tax from Line 10 to the relevant section on your Form 1040. Remember to review your completed form and double-check for any errors or missing information before submitting it to the IRS. If you're unsure about any aspect of filling out Schedule SE or have specific questions, it's advisable to consult a tax professional or seek guidance from the IRS.

What is the purpose of schedule se form?

The purpose of Schedule SE form is to calculate the self-employment tax owed by individuals who have net earnings from self-employment. This form is used by self-employed individuals, including freelancers, sole proprietors, and partners, to determine their tax liability for Medicare and Social Security taxes.

What information must be reported on schedule se form?

The Schedule SE form is used to report self-employment taxes, specifically the Social Security and Medicare taxes owed by individuals who are self-employed. The following information must be reported on Schedule SE: 1. Net earnings from self-employment: This includes the income received from self-employment activities after deducting any expenses incurred in generating that income. 2. Self-employment tax: This is the tax calculated based on the net earnings from self-employment. It represents the Social Security and Medicare taxes that would have been paid if the individual was an employee rather than self-employed. 3. Deduction for one-half of self-employment tax: Self-employed individuals are allowed to deduct half of the self-employment tax calculated above from their total income. 4. Taxable income: This is the individual's total income from all sources, including the net earnings from self-employment. 5. Income tax: This is the regular income tax owed on the individual's taxable income, which is calculated separately from the self-employment tax. 6. Total tax liability: This is the sum of the self-employment tax and the income tax. 7. Estimated tax payments: If the individual made estimated tax payments throughout the year, the total amount paid should be reported on Schedule SE. By reporting this information on Schedule SE, the correct amount of self-employment tax can be calculated and paid by the individual.

When is the deadline to file schedule se form in 2023?

The official deadline for filing Schedule SE form in 2023 is typically April 18, 2023. However, it is always recommended to double-check with the Internal Revenue Service (IRS) or a tax professional for any potential updates or extensions to the deadline.

What is the penalty for the late filing of schedule se form?

The penalty for late filing of Schedule SE (Self-Employment Tax) can vary depending on the circumstances. As of 2021, the penalty is generally 5% of the unpaid self-employment tax per month, up to a maximum of 25% of the unpaid tax. However, if the IRS determines that the late filing was due to intentional disregard of the tax law, the penalty can increase to 15% per month, up to a maximum of 75% of the unpaid tax. It's always best to file your taxes on time to avoid these penalties.

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