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New Member
posted Jun 1, 2019 12:46:15 PM

Self-employemnt expenses arent calculating?

0 7 552
7 Replies
Expert Alumni
Jun 1, 2019 12:46:17 PM

Does your Schedule C show a profit or a loss?

New Member
Jun 1, 2019 12:46:18 PM

Loss

Expert Alumni
Jun 1, 2019 12:46:21 PM

You are only subject to self-employment tax based on your Schedule C profit.  If you have a loss, there are no self-employment taxes.

New Member
Jun 1, 2019 12:46:22 PM

The schedule C isn’t showing a loss, it just shows $0.

Expert Alumni
Jun 1, 2019 12:46:24 PM

There is no self-employment tax if your Schedule C shows 0.

New Member
Jun 1, 2019 12:46:27 PM

Last year our schedule c showed a loss and showed in our income summary. So I reflected in what we owed or got back from federal and state. It originally showed in our summary today, but when we got to the end and it asked questions, it went away.

Expert Alumni
Jun 1, 2019 12:46:28 PM

It isn't showing up this year because it is -0-, not a positive number (Profit) OR a negative number (Loss).  Usually it is -0- if you are writing off a home office or self-employed health insurance premiums.