SIMPLE IRA limits for self employed

[steve-o]

Taxpayer has two separate lines of business, filing a Schedule C and a Schedule F.

The Schedule F has a SIMPLE IRA. That business incurred a loss in 2014.

The Schedule C reported income in 2014 that is greater than the Schedule F loss.

Question: Can the taxpayer make a deductible SIMPLE IRA contribution to the Schedule F business, even though it has a loss, because the taxpayer has positive net SE income?