That's a confusion on my part, sorry about that. You are right, the expenses are deducted before profits. In my case, the expenses are so small (<$1k) that the

That's a confusion on my part, sorry about that. You are right, the expenses are deducted before profits. In my case, the expenses are so small (<$1k) that they would not significantly affect the final tax to be paid, so I just left it at the end as an aside.