ET-8 - Excise Tax Adjustment When Earnings Subject to Self Employment Tax Include IRC 179 Expense

To prevent a double deduction of Internal Revenue Code (IRC) Section 179 expense from the excise tax base, taxpayers that file federal form 1065 and have an IRC § 179 expense and amounts subject to self-employment taxes must reduce the deduction on Form FAE170, Schedule J1, Line 6 for amounts subject to self-employment taxes by the amount of any IRC § 179 expense claimed on Schedule J1, Line 5.