"We actually got bitten by this last year. Turbotax didn't flag anything but the IRS made me remove money from the Roth IRA because my contribution exceeded my net income."
Compensation available to support an IRA contribution (traditional or Roth) is net profit is reduced only by the deductible portion of self-employment taxes and the the deductible amount of self-employed retirement contributions. See Self-employment income under What is Compensation? in IRS Pub 590-A. The self-employed health insurance deduction does not reduce compensation for the purpose.
https://www.irs.gov/pub/irs-pdf/p590a.pdf
