Posted by Larry/Ca on 4/16/11 3:26pm
Msg #380089

Trubo tax and notary exempt income

Perhaps someone knows where in turbo tax deluxe you make an entry so it types "exempt-notary" and a dollar amount on line 3, that is subtracted from line 2, on schedule SE form 1040.

I've been through the step-by-step time and time again and I just go in circles. I can't get the tax software to exempt my notary income from self-employment tax.

thanks, if you know this. larry

Reply by NS35/CA on 4/16/11 4:09pm
Msg #380092

I'm not sure if the Deluxe version has this feather. I bought Turbo tax other version (just don't recall the name right now, but is the most expensive one among the 4 versions) has it. It should be under Income section and it would ask you if you have other incomes; like notary public. Then you click "adjustment of income" something like that. If you saw all that I mentioned, that's the one.

Reply by Linda_H/FL on 4/16/11 4:12pm
Msg #380094

Seriously, if you're running a business and filing your

own return you should really have business software. I use TurboTax Home & Business - I've never had a problem taking the exemption.

Reply by LMS on 4/16/11 6:59pm
Msg #380105

I've used completetax .com for the last 8-10 years and last year I did my taxes using both turbo and completetax, I ended up filing with completetax as always. Turbo was not even worth considering. I found it didn't even come close to being as "user friendly," as completetax. So, maybe the reason everyone keeps posting about the problems with turbo or where should I put this and that is they are using the wrong program.... just mho.

Reply by Larry Adams on 4/17/11 9:23pm
Msg #380191

I had a major problem with Turbo Tax a couple of years ago, when we settled my MIL's estate and had Excess Deductions On Termination of Estate, to the tune of $39,000. Turbo Tax didn't efile the form needed to support the deduction on my 1040, didn't tell me the form hadn't been filed, and of course the IRS chose to audit me... and disallowed the deduction because it wasn't supported by that one piece of paper. They wanted another $4,000+ in taxes. I went round and round with IRS because many of their own audit people and supervisors are incompetent, and finally had to appeal to the Tax Court and hire an enrolled agent to get the deduction allowed in its entirety. Finally cost me $400 for the EA, and over a year of irritation and frustration.

Reply by VioCa on 4/16/11 11:23pm
Msg #380113

From the top of the screen go to View, Forms and SE Adj Wks
Edit the Worksheet and on line 9 manually input the net income that you figured is exempt from selfemployment tax
In other words you have to edit the form and get it in if you cannot do it from step by step interview.
Hopefully this helps

Reply by Larry/Ca on 4/16/11 11:56pm
Msg #380114

Thank you Viorica, that works n/m