Is anyone familiar with Notarial act exemption and how to claim it on Sched SE? What if that number is larger than your net profit?

[jimburke96]

Ahhhhhh!!  You are totally NOT overcomplicating things!  If you enter the two amounts as suggested, you are adding to your income on top of the 1099s which you HAVE to enter.  The only place I've found that LOWERS your tax owed is under Adjustments under Self-Employment Tax.  It describes it as You earned income as a Notary Public and You want to exclude income from self-employment tax.  I don't know if that's the right way to do it, but I have been scouring the internet and everything says the same thing.

[cmcail63]

I have been using a program called Notary Assist since 2017. It allows me to enter the number of notarial certificates for each signing. I count them when I'm reviewing the package after the signing. The program allows you to run a tax report, which shows the value of notary fees subtracted from the total gross sale (schedule C) which gives the total to report on Schedule SE.

[rubyinoregon]

What are considered Notarial Acts? Only notarizations? Some sites mention giving a standalone oath as a notarial act. If a notary gives an oath to two loan signers that quickly adds up. Thanks!

[LeonardS]

This link https://Common Notarial Acts list 13 of the common notarial acts , their Description/Notary’s Role, and States where authorized.

[rubyinoregon]

Thanks, Leonard. Link doesn't work. Tried to find it, very interested in 13 notarial acts!

[LenaH]

The link is: Common Notarial Acts.

@rubyinoregon

[rubyinoregon]

Thanks, Lena, that is the one!