Question

Need to know the amount of deduction for these payments and where to put them on draft forms for 2018.

Joyce is self employed and makes federal estimated tax payments of $210 per quarter on 4/15/18, 6/15/18, 9/15/18, and 12/15/18.

She also makes estimated payments of $150 per quarter to the state of Rhode Island on 4/15/2018, 6/15/18, 9/15/18, 12/31/18.

Answer 1

SCHEDULE SE (Form 1040)
	Section A—Short Schedule SE.
Line 6	Deduction for one-half of self-employment tax.	420
	W.N: (210*4)*50% = $420
SCHEDULE 1 (Form 1040)
Line 27	Deductible part of self-employment tax. Attach Schedule SE	420
SCHEDULE A (Form 1040)
	Taxes You Paid
Line 5	State and local taxes.	420
a	State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box	600
	W.N: (150*4) = $600