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tacxsman
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K1 partnership. Why does tax goes up by $11,400 with amount in Guaranteed Payments (box 4) and then same number in self employment(box14) tax goes up $8,300 more?

 
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K1 partnership. Why does tax goes up by $11,400 with amount in Guaranteed Payments (box 4) and then same number in self employment(box14) tax goes up $8,300 more?

Entering Box 4 adds income tax to your tax return.

Entering Box 14 adds self-employment tax (Social Security and Medicare taxes) to your tax return.

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K1 partnership. Why does tax goes up by $11,400 with amount in Guaranteed Payments (box 4) and then same number in self employment(box14) tax goes up $8,300 more?

Entering Box 4 adds income tax to your tax return.

Entering Box 14 adds self-employment tax (Social Security and Medicare taxes) to your tax return.

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