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Old 03-06-2003, 09:59 PM
aks_tn_6
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Self Employment Tax

What is the name of your state? TN

Regarding Form 1040, Line 12. Two schedule C's have been completed, one with a gain and one with a loss. Is it appropriate to add these two amounts together and report the total figure on line 12, and is line 56 (schedule SE) based on the one total amount (or on the schedule C "gain" amount)?

Thanks for taking my questions this year. Your input is helpful!
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Old 03-06-2003, 11:14 PM
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Location: Washington
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Yes, you add the Sch.Cs & pay tax on the net.
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