Question to this answer: if you do not claim any expenses against the Schedule C income and that Schedule C income/profit is an amount/limit that can be fully contributed to a traditional IRA, will it still will be subject to Social Security and Medicare but not federal and or state tax due to that contribution being deductible since you are not in an employer-sponsored contribution plan (No check mark on w2)? Could this be an alternative to help tax liability if you have a fidiciary K1 income?
