Get your taxes done using TurboTax

Self-employment taxes are calculated separately. They are 15.3% of your income from self-employment. They are only reduced by business expenses which decrease your profit.

 The standard deduction does not decrease your self-employment tax, it will, however, reduce your regular income tax on your total income including income from self-employment.  If you look at your Schedule 4 you will see the Self-Employment tax reported on line 57.  It is computed on Schedule SE then appears on line 14 of your 1040.

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

View solution in original post