FAA4.J Self-Employment Income (SEEI SEEW) : 06 Budgeting Self-Employment Income : A Gross Profit Determination
Gross Profit Determination
 
(01/01/13 - 03/31/13)
Self-employment income consists of gross income received minus the self-employment expense deduction.
 
EXCEPTION
Self-employment income due to farming uses actual expenses and has special budgeting procedures. (See Farming)
 
When the income received is more than the business expenses, consider the difference to be the gross profit.