the below info is taken from ITS Pub 560
All earnings are from work I performed…
from Pub 560
For a self-employed individual, compensation means the earned income, discussed later, of that individual.
Earned income.
Earned income is net earnings from self-employment, discussed later, from a business in which your services materially helped to produce the income.
Net earnings from self-employment.
For SEP and qualified plans, net earnings from self-employment are your gross income from your trade or business (provided your personal services are a material income-producing factor)
