Self Employment Tax

[pries0114]

As ever, I pay a self employment tax, and being that I am the business, can I deduct this tax maount assessed for a prior year and paid in the current year, as a deduction from my business income?

[Bsch4477]

One half of your self employment tax is deducted from your income as an adjustment when you complete your tax return. TurboTax does that for you automatically. 

[Opus 17]

Federal income and SE taxes are never deductible on your federal tax return, you just owe the tax.

In some states, federal income taxes paid count as a state itemized deduction, assuming you itemize your deductions.  I don't know if that includes SE taxes, or only income tax.  It would depend on state law, and Turbotax will automatically claim it for you if allowed. 

[dmertz]

The deduction for ½ of your self-employment tax goes on the tax return (Schedule 1) for the year to which the self-employment tax applies, not on some other tax return.  It's an above-the-line individual deduction, not a business deduction.  There is no other deduction for SE tax paid.