Yes, as a sole proprietor, you are able to deduct 50% of your self-employment tax "above the line", that is, as an adjustment to gross income on Schedule 1 (1040).
This will be done automatically for you when you complete enter income and expenses for Schedule C (your business).
TurboTax will generate a Schedule SE to compute the self-employment tax based on 92.35% of the net income from your Schedule C, and then TurboTax will carry 50% of that self-employment tax to Schedule 1 (1040).
You don't have to do anything but complete the Schedule C/business
[Edited 4/2/2020 1:56 pm CDT - updated for 2019]
Yes, as a sole proprietor, you are able to deduct 50% of your self-employment tax "above the line", that is, as an adjustment to gross income on Schedule 1 (1040).
This will be done automatically for you when you complete enter income and expenses for Schedule C (your business).
TurboTax will generate a Schedule SE to compute the self-employment tax based on 92.35% of the net income from your Schedule C, and then TurboTax will carry 50% of that self-employment tax to Schedule 1 (1040).
You don't have to do anything but complete the Schedule C/business
[Edited 4/2/2020 1:56 pm CDT - updated for 2019]