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Filled-In Form Examples
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| The following examples illustrate the use of the short and long forms of Schedule SE (Form 1040). |
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Example, filled-in Schedule SE (Form 1040)
Schedule SE (Form 1040) Filled-in form example
| Short Schedule SE Example |
| The following example shows how Susan J. Brown fills out Section A–Short Schedule SE. |
| Background |
| Susan J. Brown is the sole proprietor of a dress shop, "Milady Fashions." She received no wages and she does not own any other business. Her husband has no interest in her business. Her Schedule C (Form 1040) shows a net profit of $35,100 in 2001. |
| Completing Schedule SE |
| Susan's completed Schedule SE with Short Schedule SE filled out is shown later. |
| The following table describes how Susan completes each line on her schedule. |
| Table 8. Completing Short Schedule SE
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| Schedule SE, page 1
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| If Susan Owned More Than One Business |
| If Susan were the sole proprietor of more than one business, she would have combined the profits and losses from all of them and completed a single Schedule SE. |
| If Susan Earned Wages |
| If, in addition to operating her dress shop, she had worked for wages and the total of her wages and her SE income was more than $80,400, she would have filled out Long Schedule SE. |
| If Susan's Husband Had
Income from Self-Employment |
| Susan's husband has no interest in her business and does not pay SE tax on this income. If her husband was a partner in the business or had other income subject to SE tax, he would file a separate Schedule SE. |
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| Long Schedule SE Example |
| The following example illustrates how John Clarke fills out Section B–Long Schedule SE. |
| Background |
| John Clarke is single. He is employed as a full-time history professor at a local university. His wages from this job were $74,000. John also gives lectures around the country on a freelance basis. His net profit from these lectures was $15,000, which he reported on Schedule C–EZ (Form 1040), (not shown). |
| Because his net profit from lecturing and his wages total more than $80,400, he must fill out Long Schedule SE. |
| Completing Schedule SE |
| John only needs to complete Part I of Long Schedule SE since he is not using an optional method. |
| John's completed Long Schedule SE is shown later. |
| The following table describes how John completes each line. |
| Table 9. Completing Long Schedule SE
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| Schedule SE, page 2
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