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Yes, half is treated the same as a W2 employee, and half is subtracted from Adjusted Gross Income, similar to an employer deducting the portion of FICA they paid for their employees.
"Compute self-employment tax on
Form 1040, Schedule SE.pdf
. When figuring your adjusted gross income on Form 1040, you can deduct one-half of the self-employment tax. You calculate this deduction on Schedule SE (attach
Form 1040, Schedule 1.pdf
,
Additional Income and Adjustments to Income
). The
Social Security Administration
uses the information from Schedule SE to compute your benefits under the social security program."
Yes, half is treated the same as a W2 employee, and half is subtracted from Adjusted Gross Income, similar to an employer deducting the portion of FICA they paid for their employees.
"Compute self-employment tax on
Form 1040, Schedule SE.pdf
. When figuring your adjusted gross income on Form 1040, you can deduct one-half of the self-employment tax. You calculate this deduction on Schedule SE (attach
Form 1040, Schedule 1.pdf
,
Additional Income and Adjustments to Income
). The
Social Security Administration
uses the information from Schedule SE to compute your benefits under the social security program."
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