Documents & Forms
Form 1040 attachment that computes self-employment Social Security and Medicare tax.
Schedule SE (Self-Employment Tax) computes the Social Security and Medicare contribution owed by US self-employed: 15.3% on 92.35% of net profit reported on Schedule C. Half of the SE tax is deductible on gross income (Schedule 1 line 15). Mileage deducted on Schedule C reduces the SE base and therefore the SE tax owed.