Do I pay self employment taxes on capital gains?

[584311712]

Do I pay self employment taxes on capital gains?

[SharonD007]

No, you don't pay self-employment taxes on capital gains.  You pay capital gains tax on your capital gains that you make from selling an asset. 

Refer to the TurboTax articles: A Guide to the Capital Gains Tax Rate: Short-term vs. Long-term Capital Gains Taxes and  5 Things You Should Know about Capital Gains Tax for more information regarding capital gains.

[584311712]

Will reporting expenses on Schedule C as trader tax status [with gains on schedule D] reduce the amount I pay self employment taxes for other businesses for which I file schedule C that have a net profit?

[AnnetteB6]

Yes, since the Schedule C used to claim expenses you incur as a trader will show a loss, it will be combined with any other Schedule C showing a profit before the self-employment tax is calculated.

You may find the following TurboTax help article useful:

How do I report my trader activity with or without Section 475(f) election in TurboTax?