Question

How do I pay Self employment tax on schedule k-1 income?

Forum|Forum|4 years ago
March 19, 2022
1 reply
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I have re-entered my K-1 (1065) information several times and can not get TurboTax to create a schedule SE for me to pay Self employment tax. It also claims I don't have "earned income" adequate to allow me to contribute to my IRA. All of my income is earned through a farm partnership / LLC which files for 1065.

TurboTax Premier Online

E

ErnieS0

Check Box 14 of your Schedule K-1. You should have entries for Code A (Net earnings (loss) from self-employment) and Code B (Gross farming or fishing income).

If Code A is missing, add Code A and enter the same amount as Cod B. This will create self-employment income and enter the correct amount on line 1a of Schedule SE.

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