I had a business loss reported on Schedule C for my sole proprietorship. I look at form CZ but can't see where anything was deducted for self employment tax. Do I owe?

edebs31350 · ‎June 6, 2019

PaulaM · ‎June 6, 2019

You would not owe self-employment taxes if you had a loss. It is owed on profits greater than $400.

https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

https://pocketsense.com/must-selfemployment-net-loss-reported-tax-return-21351.html

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Carl · ‎June 6, 2019

My screen shows you are using the online edition of TurboTax free. You can't use that edition to report business income on SCH C or C-EZ. In order to claim any business expenses you have to use TurboTax Self-Employed.

PaulaM · ‎June 6, 2019

You would not owe self-employment taxes if you had a loss. It is owed on profits greater than $400.

https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

https://pocketsense.com/must-selfemployment-net-loss-reported-tax-return-21351.html

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I had a business loss reported on Schedule C for my sole proprietorship. I look at form CZ but can't see where anything was deducted for self employment tax. Do I owe?