The deduction for self-employment taxes in2015 is deductible as an above-the-line deduction at a rate of 7.65% based on the employer's portion of the taxes.

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The deduction for self-employment taxes in 2015 is deductible as an above-the-line deduction at a rate of 7.65%, which represents the combined Social Security and Medicare tax rate of the employer portion of the taxes. Therefore, the statement is true.

The Deduction for Self-Employment Taxes In2015 Is Deductible as an Above-The-Line