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Deductions & credits
something is wrong if you had only $500 of net schedule C income the SE tax is a maximum of 500*.9235*.153 = $70 of which only 1/2 reduces the Schedule C income for QBI. net income would be $430 not zero. if the SE tax is reducing the income to zero you may be doing something wrong.
‎September 23, 2023
12:31 PM