Publication 560 - Retirement Plans For Small Business

Portion of Schedule SE (Form 1040)

Section A—Short Schedule SE. Caution: Read above to see if you can use Short Schedule SE.

Net farm profit or (loss) from Schedule F, line 36, and farm partnerships, Schedule K-1 (Form

1065), line 15a

Net profit or (loss) from Schedule C, line 31; Schedule C-EZ, line 3; Schedule K-1 (Form 1065),

line 15a (other than farming); and Schedule K-1 (Form 1065-B), box 9. Ministers and members

of religious orders, see page SE-1 for amounts to report on this line. See page SE-2 for other

200,000

income to report

200,000

Combine lines 1 and 2

Net earnings from self-employment. Multiply line 3 by 92.35% (.9235). If less than $400,

184,700

do not file this schedule; you do not owe self-employment tax

Self-employment tax. If the amount on line 4 is:

● $80,400 or less, multiply line 4 by 15.3% (.153). Enter the result here and on

15,326

Form 1040, line 53.

● More than $80,400, multiply line 4 by 2.9% (.029). Then, add $9,969.60 to the

result. Enter the total here and on Form 1040, line 53.

Deduction for one-half of self-employment tax. Multiply line 5 by

7,663

50% (.5). Enter the result here and on Form 1040, line 27

For Paperwork Reduction Act Notice, see Form 1040 instructions.

Schedule SE (Form 1040) 2001

Cat. No. 11358Z

Portion of Form 1040

IRA deduction (see page 27)

Adjusted

Student loan interest deduction (see page 28)

Gross

Archer MSA deduction. Attach Form 8853

Income

Moving expenses. Attach Form 3903

7,663

One-half of self-employment tax. Attach Schedule SE

Self-employed health insurance deduction (see page 30)

14,450

Self-employed SEP, SIMPLE, and qualified plans

Penalty on early withdrawal of savings

31a

Alimony paid

b Recipient’s SSN

22,113

Add lines 23 through 31a

Subtract line 32 from line 22. This is your adjusted gross income

Portion of Schedule SE (Form 1040)

Section A—Short Schedule SE. Caution: Read above to see if you can use Short Schedule SE.

Net farm profit or (loss) from Schedule F, line 36, and farm partnerships, Schedule K-1 (Form

1065), line 15a

1040

Net profit or (loss) from Schedule C, line 31; Schedule C-EZ, line 3; Schedule K-1 (Form 1065),

line 15a (other than farming); and Schedule K-1 (Form 1065-B), box 9. Ministers and members

of religious orders, see page SE-1 for amounts to report on this line. See page SE-2 for other

income to report

Combine lines 1 and 2

Net earnings from self-employment. Multiply line 3 by 92.35% (.9235). If less than $400,

200,000

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see page 72.

do not file this schedule; you do not owe self-employment tax

Self-employment tax. If the amount on line 4 is:

● $80,400 or less, multiply line 4 by 15.3% (.153). Enter the result here and on

Form 1040, line 53.

● More than $80,400, multiply line 4 by 2.9% (.029). Then, add $9,969.60 to the

184,700

15,326

For Paperwork Reduction Act Notice, see Form 1040 instructions.

Deduction for one-half of self-employment tax. Multiply line 5 by

50% (.5). Enter the result here and on Form 1040, line 27

result. Enter the total here and on Form 1040, line 53.

Cat. No. 11358Z

7,663

Schedule SE (Form 1040) 2001

Cat. No. 11320B

Form

(2001)

Adjusted

Gross

Portion of Form 1040

IRA deduction (see page 27)

Archer MSA deduction. Attach Form 8853

Student loan interest deduction (see page 28)

Income

One-half of self-employment tax. Attach Schedule SE

Self-employed health insurance deduction (see page 30)

Self-employed SEP, SIMPLE, and qualified plans

Penalty on early withdrawal of savings

Moving expenses. Attach Form 3903

7,663

14,450

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see page 72.

Alimony paid

Add lines 23 through 31a

Subtract line 32 from line 22. This is your adjusted gross income

31a

b Recipient’s SSN

31a

Cat. No. 11320B

22,113

Form

1040

(2001)

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Chapter 6 How To Get Tax Help

Page 23

Publication 560 - Retirement Plans For Small Business - 2001 Page 23

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