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Level 2
November 28, 2022
Question

K1 line 14 code c

  • November 28, 2022
  • 2 replies
  • 3 views

Where does the information from K1 line 14 code C go on the personal tax return?  I know code A is used for self-employment tax computation but can't find where code C ends up.

    2 replies

    Critter-3
    Level 15
    November 29, 2022

    Generally, the amount reported on Schedule K-1 (1065), Box 14, Code C Gross Nonfarm Income is not used on the individual income tax return. This amount would only be used if you are using the nonfarm option method for calculating your self-employment tax on Schedule SE.

    mwilde111Author
    Level 2
    November 29, 2022

    Thanks.  That's what I was reading but it seemed to me it should flow to pg 2 of schedule E.  Perhaps it already does from lines 1-10 income so I am overthinking this.