What is Schedule SE?
Schedule SE is used to calculate the tax due on net income from self-employment. It is one of the multiple schedules attached to form 1040, the form for filing individual income tax return.
What is self-employment tax? It’s a combination of your Social Security and Medicare tax, which are taxes that are withheld generally if you work as a full-time W-2 employee.
Do I need to fill out Schedule SE to Form 1040?
If you made over $400 from self-employed income, then yes, you need to complete Schedule SE.