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6
644812fa6f7b
February 26, 2024
Question

Why is 1/2 of gross income of 2 partner LLC listed in line 14 of my K-1? It is listed with no code.

  • February 26, 2024
  • 1 reply
  • 0 views
How do I remove it?

1 reply

J
JamesG1
February 27, 2024

The instructions call for this amount (net adjustments, see the instructions) to report self-employment tax.  See IRS Schedule SE.

 

The instructions report Code A, B and C.

 

You may want to contact the preparer of the form to obtain the proper code.

 

IRS 2023 Partners Instructions for Schedule K-1 (1065) states:

 

Box 14. Self-Employment Earnings (Loss) 

 

If you and your spouse are both partners, each of you must complete and file your own Schedule SE (Form 1040), Self-Employment Tax, to report your partnership net earnings (loss) from self-employment. 

 

 

 

 

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