What is 2012 schedule se?

The 2012 schedule se, also known as the Schedule SE, is a form used by self-employed individuals to report their earnings and calculate self-employment tax. It is an important document that helps determine the amount of Social Security and Medicare taxes a self-employed person owes.

What are the types of 2012 schedule se?

There are two types of 2012 schedule se forms: 1. Schedule SE (Form 1040), which is used by self-employed individuals who file their taxes using Form 1040. 2. Schedule SE (Form 1040-SR), which is used by self-employed individuals who file their taxes using Form 1040-SR, specifically designed for senior taxpayers.

Form 1040
Form 1040-SR

How to complete 2012 schedule se

Completing the 2012 schedule se is a straightforward process. Here are the steps to follow: 1. Obtain the 2012 schedule se form from the IRS website or a reputable tax preparation software. 2. Fill out the necessary personal information, including your name, Social Security number, and filing status. 3. Calculate your net profit or loss from your self-employment activities. 4. Determine the amount of self-employment tax you owe by multiplying your net profit by the self-employment tax rate. 5. Fill in the required fields on the form to report your self-employment tax correctly. 6. Double-check all the information provided and ensure the form is signed and dated. 7. Submit the completed 2012 schedule se along with your tax return and any other required documentation.

01
Obtain the form
02
Fill out personal information
03
Calculate net profit or loss
04
Determine self-employment tax owed
05
Complete the required fields
06
Review and sign the form
07
Submit the form with tax return

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Questions & answers

You can also visit the Schedule SE section in TurboTax by: Open (continue) your return if it isn't already open. Inside TurboTax, search for sch SE and then select the Jump to link in the search results. On the Self-Employment Tax screen, select Make Adjustments.
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.
In years past, Schedule SE had a long and short version but this is no longer the case. Now, Schedule SE consists of two parts. Most self-employed individuals will only fill out Part I. Part II contains two optional methods that you must meet certain criteria to use.
Self-Employed Persons You must pay SE tax if you had net earnings of $400 or more as a self-em- ployed 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.
An individual does not pay self-employment tax if net earnings from self-employment are: less than $400. or. less than $100 if the individual is a church employee.
Who Must Pay Self-Employment Tax? You must pay self-employment tax and file Schedule SE (Form 1040 or 1040-SR) if either of the following applies. Your net earnings from self-employment (excluding church employee income) were $400 or more. You had church employee income of $108.28 or more.