New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Where do I indicate a Schedule C as a minister filing as tax-exempt for self-employment tax purposes?

Answer

In Screen C, enter 2 in the Self-employment code field and in Screen Clergy, enter X in the Form 4361 filed with IRS field and taxable income from this Schedule C is excluded from self-employment income and therefore not subject to self-employment tax. "Exempt-Form 4361" prints next to the self-employment tax line on Form 1040, Schedule 4, Page 2.

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