@SLB23 thank you for the question and congratulations on your “working retirement”. So, Self-Employment tax applies to the entire net earnings, and not just the amount exceeding $400 of net earnings. So you start from the first dollar of net earnings. Though there is a wrinkle to the calculation of the $400 net earnings. It is only 92.35% of the net earnings.
You can calculate it using the IRS form for planning purposes. See: https://www.irs.gov/pub/irs-pdf/f1040sse.pdf
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