I can take the net sum of two C schedules to come up with the figure I owe for self emplymnt tax?

I filled out a C schedule and showed I had a loss of 2000.00. On my second Biz's C schedule I showed income of 4000.00. So rather than pay 4000.00 worth of Self Emp. Tax I could minus the 2000.00 from my income of 4000.00 and pay Self Tax according to a net income of 2000.00? I think I ephed up.

I can take the net sum of two C schedules to come up with the figure I owe for self emplymnt tax?
Yep, that's exactly how you do it. You will pay SE tax on the net of all Schedules C that you file.
Reply:TFTP Report It

Reply:Yes, you total up the schedule C's for yourself and use that number on your schedule SE. If you are married filing a joint return though, and you both have schedule C's, then you do a separate schedule SE for each of you.
Reply:yes
Reply:Yes you net them and carry the figures to your 1040.

brandon flowers