Previous Page: Instructions - Instructions for Physician's Statement Next Page: Instructions - General Instructions Use   to find additional occurrences of topic items.

2007 Instructions for Schedule SE (Form 1040)

taxmap/instr/i1040sse-000.htm#TXMP493c1768 Self-Employment Tax

2007

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. This tax applies no matter how old you are and even if you are already getting social security or Medicare benefits.

taxmap/instr/i1040sse-000.htm#TXMP15d262af Additional information.

See Pub. 225 or Pub. 334.

taxmap/instr/i1040sse-000.htm#TXMP2f584229 What's New

For 2007, the maximum amount of self-employment income subject to social security tax is $97,500.

taxmap/instr/i1040sse-000.htm#TXMP0d657370 Husband-wife business.

Beginning in 2007, if you and your spouse file a joint return and jointly own and operate a business, you may be able to make a joint election to be taxed as a qualified joint venture instead of a partnership and determine self-employment tax based on your respective share of the business. See Qualified Joint Ventures on page SE-2.

Previous Page:  Instructions - Instructions for Physician's Statement Next Page:  Instructions - General Instructions Use   to find additional occurrences of topic items.