I'm a member of a Partnership LLC and entered a Schedule K-1. Do I also enter Self-employment income and expenses?

[Flopbot]

On the Federal Wages & Income screen, TT is waiting for me to review the Self-employment income and expenses section.  The Schedule K-1 has already been entered/reviewed.

[Irene2805]

No -- You don't have to enter your self-employment income separately..  It is included on your K-1 in Box 14 with Code A - Net earnings (loss)  from self-employment. Just enter your K-1.

To enter any unreimbursed partnership expenses (UPE), please follow these steps as you are going through the K-1 interview:

1. Continue through the screens until you reach Describe the Partnership.
2. On this screen mark the box I am required to pay supplemental business expenses on behalf of this partnership/LLC for which I am not reimbursed. and click Continue.
3. On the next screen, Unreimbursed Partnership Expenses, click the blue Yes box.
4. Continue through the screens, entering any expenses incurred.

[Flopbot]

Thank you @Irene2805 for your reply!  One follow up question.

I'm doing my business taxes in H&R Block and my personal taxes in TurboTax.  For the unreimbursed partnership expenses (UPE), wouldn't those have already have been considered/entered into the data that shows up in the K-1 I'm entering into Turbo Tax?

Asked a different way:  do I need to enter them a second time on the TurboTax (personal) side of my taxes?  

[Irene2805]

No - If they are truly unreimbursed partnership expenses, they are not reported on the Schedule K-1 of the partnership--they are expenses incurred by the partner and are reported by the partner on his or her tax return.

[Flopbot]

Thank you @Irene2805.  That makes so much sense now!  In our case, we're starting a business and ALL the expenses have already been fed into the K-1 that's being entered into Turbo Tax.

[Irene2805]

You're very welcome!