Self employment tax for two business, one business has a loss

[SunnysideUp]

I have one LLC with a profit and another with a net operating loss.  Is there a way to offset the self employment tax for the profitable business by the loss of the business with the loss?

Thank you 

[KrisD15]

No, Self-Employment tax is your FICA tax. Since you did have a profit on one of your businesses, your Social Security Statement will show income for that profit and your self-employment tax will fund your social security account. 

[SunnysideUp]

Thank you for your reply.

Seems like the two amounts one negative, one positive, both representing work I did for the year, would combine to create the actual income that I made. I'd rather not fun my Social security account. 

[VolvoGirl]

I think they will be combined on a single Schedule SE.  Make sure each Schedule C is assigned to the right spouse if married.  Like both to you.  

[VolvoGirl]

Yes they are combined.  See Schedule SE instructions top of page SE-3.  If you have a loss in one business it reduces the income from another.  Figure the combined SE tax on one Schedule SE.

https://www.irs.gov/pub/irs-pdf/i1040sse.pdf