2012 Self-Employment Tax and Deduction Worksheet for Lines 1 and 11 of the Estimated Tax Worksheet
1a. Enter your expected income and profits subject to self-employment tax*
1a.
.
.
.
.
.
b. If you will have farm income and also receive social security retirement or disability benefits,
enter your expected Conservation Reserve Program payments that will be included on
Schedule F (Form 1040) or listed on Schedule K-1 (Form 1065)
.
.
.
.
.
.
.
.
b.
2.
Subtract line 1b from line 1a .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2.
3.
Multiply line 2 by 92.35% (.9235)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
3.
4.
4.
Multiply line 3 by 2.9% (.029)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$110,100
5.
Social security tax maximum income .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
5.
6.
Enter your expected wages (if subject to social security tax or the 6.2% portion of tier 1
railroad retirement tax)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
6.
7.
7.
Subtract line 6 from line 5
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Note. If line 7 is zero or less, enter -0- on line 9 and skip to line 10
8.
Enter the smaller of line 3 or line 7 .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
8.
9.
9.
Multiply line 8 by 12.4% (.124) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
10.
Add lines 4 and 9. Enter the result here and on line 11 of your 2012 Estimated Tax Worksheet
.
.
.
.
.
.
10.
11.
Multiply line 10 by 50% (.50). This is your expected deduction for self-employment tax on
Form 1040NR, line 27. Subtract this amount when figuring your expected AGI on line 1 of
your 2012 Estimated Tax Worksheet
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11.
*Your net profit from self-employment is found on Schedule C (Form 1040), line 31; Schedule F (Form 1040), line 34; Schedule K-1 (Form 1065), box
14, code A; and Schedule K-1 (Form 1065-B), box 9, code J1.
-5-