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You are not required to do so but it would be beneficial to your Tax Return to include this expense. By entering expenses into your Schedule C the profit of your business (for tax purposes) is reduced. This reduction in profit translates into a lower Self-Employment Tax.
It is advisable to enter all the expenses related to the income produced by Self-Employment. For a quick read on Income and Deductions for Self-Employed individuals and Businesses please click on the link below:
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