Posted by Kathy/NJ on 4/4/11 12:18pm
Msg #378499

Did anyone use Turbo Tax and can tell me how I enter the

amount of notary fees, so I can reduce the self-employment tax? I've been going over it but can't find this. Thanks!

Reply by Linda_H/FL on 4/4/11 12:21pm
Msg #378501

Did you use TurboTax Home & Business?

The walkthrough for the business portion of the return asks if any portion of your income is related to notary fees - I suppose, that is, if you indicated in the beginning that your business is Notary Public and/or entered the correct code.

If you're not being prompted for that information I'd go back and start all over again .... something got missed somewhere.

Reply by Kathy/NJ on 4/4/11 12:27pm
Msg #378502

Re: Did you use TurboTax Home & Business?

I did indicate the business is Notary Public. I'm wondering if I entered the correct code, so I'll go back and check. Thanks

Reply by OR on 4/4/11 1:47pm
Msg #378516

Yes I do. If you go to business section there are a list of things there. Under "business tax" there is a breif case icon. You will see self employmnet tax. You can write it off there.

Reply by MW/VA on 4/4/11 1:59pm
Msg #378520

After you complete your Schedule C, it should take you to the Schedule SE Adjustments Worksheet. You're looking for Part II, Line 9. I always have more than enough notary fees to offset SE taxes on any profit.