For considering self-employment income on the Schedule SE, your full net profit from Notorial services is exempt from self-employment taxes. As for determining the amounts in your example, it depends if you're trying to complete your 1065 or input your K-1 from the 1065 into your personal tax return. Since you're discussing the SE taxes, I'm assuming you are entering your K-1.
At the end of the step-by-step to enter your K-1 in TurboTax, you can search "sch se" and there is an option to adjust your income from Notary services. If that is entered there, TurboTax will correctly complete your Schedule SE. The Schedule SE will show the total income then back out the Notary income and if that results in a loss the form will show $0 SE Tax and the form is complete.
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