Taxpayers earn self-employment income which is net income “from any trade or business carried on by such individual” under I.R.C. §1402. The meaning of “trade or business” is the same as it is under I.R.C. §162. The Supreme Court has “defined a trade or business as an activity engaged in for income or profit and performed with continuity and regularity. Commissioner v. Groetzinger, 480 U.S. 23, 35 (1987).”

There is an exclusion from inclusion of income from the sale of property in self-employment income under IRC §1402(a)(3)(C) which provides:

(3) there shall be excluded any gain or loss—