SEP-IRA Deduction for Plan Owner's Own Deduction

[15Gornzz51]

1] Is the example for calculating a plan owner's own maximum deductible SEP-IRA contribution correct in the following example?
2] And is the adjustment taken on Schedule 1 Line 16?
3] And is it correct that this will not reduce the owner's Sch C income or the owner's amount of Self-Employment tax he will have to pay?

Example for 2021.You are a Schedule C sole proprietor with no employees. If your plan's contribution rate is 25% of a participant's compensation, then the rate for your own deduction is 0.25/1.25 = 0.20. Enter this rate in step 4 of the Deduction Worksheet for Self-Employed on this page.
Step 1: Enter your net profit from SchC (Form 1040), line 31. >>>>> 71007
Step 2: Enter your deduction for self-employment tax from Schedule 1 (Form 1040), line 15. >>>>> 6379
Step 3: Net earnings from self-employment. Subtract step 2 from step 1. >>>>> 64628
Step 4: Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed. 0.25/1.25 = 0.20. >>>>> 0.20
Step 5: Multiply step 3 by step 4. >>>>> 12962
Step 6: Multiply $290,000 by your plan contribution rate (not the reduced rate). 290000 (25%) = 72500. >>>>> 72500
Step 7: Enter the smaller of step 5 or step 6. >>>>> 12962
Step 8: Contribution dollar limit >>>>> 58000
~ If you made any elective deferrals to your self-employed plan, go to step 9.
~ Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21.
Step 21:Subtract step 20 from step 19. This is your maximum deductible contribution.>>>>> 12962
For the plan owner’s own deduction, enter your actual contribution, not to exceed your maximum deductible
contribution of $12926, on Schedule 1 (Form 1040) line 16.

[Lion]

It doesn't directly reduce the Sch C income, but it does reduce the taxable income, reducing income tax. It does not reduce the amount of Self-Employment tax. Follow the flow on the tax return.

[Rapid Robert]

"Is the example for calculating a plan owner's own maximum deductible SEP-IRA contribution correct in the following example?"

Where did you get the example? Was it from a reliable source?

[15Gornzz51]

I made up my own example to apply it to the Pub 560 worksheet, and I was asking if I correctly used the worksheet to calculate the SEP-IRA owner's own maximum deduction allowed.
The above answer seems to confirm that the deduction will be taken as an adjustment on Sch 1 line 16.