Form Schedule SE - Self Employment Tax

Form 1040 Schedule SE, also known as "Self-Employment Tax," is a supplementary form used by individuals who are self-employed or have income from sources such as freelance work, business ownership, or independent contracting. The purpose of Schedule SE is to calculate and report the self-employment tax owed by individuals who earn income that is not subject to regular employment taxes.

Self-employment tax covers the Social Security and Medicare taxes that would typically be withheld by an employer in a traditional employment scenario. When you're self-employed, you are responsible for both the employer and employee portions of these taxes. Schedule SE helps individuals determine the amount of self-employment tax they owe based on their net earnings from self-employment.