so my i401K contribution is equal to net Sch C income minus 1/2 SE Tax. So line 27 (1/2 SE Tax) and line 28 (qualified plans) equal net income from Sch C. I could reduce my contribution (I'm paying the max) accordingly, but the net result to line 7 of 1040 would be the same - total of qualified plan contribution and self employed health insurance premium. I'm better off investing. Do you agree? Maybe in previous years instead of i401K was doing SEP-IRA and not deducting as much. Of course all my income was Sch C until the government thought I'd be better off working part time for several clients and getting paid W-2 wages with NO Benefits. Thanks for your help. Let me know if I understand correctly.
