11h – Schedule SE – Self-Employment Tax (Attach to Form 1040)

📘 Schedule SE – Self-Employment Tax (Attach to Form 1040):-

🔹 Purpose :-
Schedule SE is used to figure and report self-employment tax (Social Security and Medicare taxes) for individuals who work for themselves.

🔹 Who Must File:
You must file Schedule SE if you had:
*Net earnings of $400 or more from self-employment.
*Church employee income of $108.28 or more (special rule).

🔹 What It Covers :
*Social Security tax – 12.4% on self-employment income (up to wage base limit).
*Medicare tax – 2.9% on all self-employment income.
*Additional Medicare tax – 0.9% if income exceeds $200k (single) / $250k (married).
✅ Total SE Tax = 15.3% (Social Security + Medicare).

🔹 Special Notes :
*You can deduct half of your SE tax as an adjustment to income on Form 1040, Schedule 1.

*Income reported on Schedule C (business), Schedule F (farm), or Schedule K-1 often flows into Schedule SE.

*Even if you owe no income tax, you may still owe SE tax.

👉 In short: Schedule SE = how freelancers, gig workers, and small business owners pay Social Security & Medicare taxes.