Is the only tax impact of entering income from a K-1 partnership just self employment taxes of 15%?

I did my personal taxes first and then entered the K-1 details. The difference is 22.5% of the income on the K-1. Why is it not just the 15% owed for self employment taxes?

posted

If the partnership K-1 reports income in box 1 and self-employment earnings in box 14, the box 1 income is subject to income taxes and box 14 earnings are subject to self-employment tax computed on IRS form SE.

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