This is similar to another question (here)... but I'm not sure if the answer is the same.
I work in the oilfield and I mine cryptocurrency. Because of the current crypto bull cycle the income from each is roughly the same in 2021 to-date. Combined, it will be far exceed the cap.
I was stressing to create an LLC with an S-corp tax election to limit my tax liability. But if my SE Tax will be limited due to exceeding the cap I don't believe I have to concern myself with the LLC this year.
Is this addressed in the 1040 schedules, or would I have to pay in and then file Form 843?