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IRS Schedule C (Form 1040) • 2026 Tax Year

Schedule C Profit / Loss & Self-Employment Tax Estimator

Calculate net business income, categorize deductible expenses, and compute estimated Schedule SE self-employment tax.

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Sole Proprietorship Information

Part I: Gross Business Receipts

Part II: Deductible Business Expenses ($)

Gross Income:$84,000
Total Deductible Expenses:-$34,350
Line 31 Net Profit:$49,650
Estimated Schedule SE Tax (15.3%):$7015.32
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Includes Schedule SE
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Schedule C & SE Estimator: questions and answers

What is Schedule C?

Schedule C (Form 1040), Profit or Loss From Business, is where a sole proprietor or single-member LLC reports business income and expenses. The net profit flows to the owner's Form 1040.

How is self-employment tax calculated?

Self-employment tax is 15.3% (12.4% Social Security plus 2.9% Medicare) on 92.35% of net self-employment earnings. The Social Security part stops at the $184,500 wage base for 2026. It applies when net earnings are $400 or more.

Is this a tax filing?

No. The estimator helps you plan and keep records. File Schedule C and Schedule SE with your Form 1040 using tax software or a tax professional.

More answers: payroll and tax guides · EZStub FAQ