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K1 Imcome line 14

Forum|Forum|3 years ago
January 22, 2023
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My L14 "A" income mathces the ordinary $ BUT line "C" shows a much bigger $$$

--why and what is "C" used for?

TurboTax Business Windows

Best answer by JulieS

I assume you are referring to Schedule K-1 Form 1065.

Line 14 C is the gross nonfarm income that was reported on the Form 1065. Since 14 A is your net self-employment income, that is generally the amount on which you pay tax.

The exception is if you use the nonfarm optional method on Schedule SE (Form 1040), Part II. Click here for more information.

J

JulieSAnswer

I assume you are referring to Schedule K-1 Form 1065.

Line 14 C is the gross nonfarm income that was reported on the Form 1065. Since 14 A is your net self-employment income, that is generally the amount on which you pay tax.

The exception is if you use the nonfarm optional method on Schedule SE (Form 1040), Part II. Click here for more information.

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C

clarencemassey

what is the number for on line 14 b

J

JotikaT2

Assuming you are also referring to Schedule K-1 from a 1065 tax return, line 14B represents the self-employment earnings or (loss) from a farming or fishing business.