We are a two-member LLC filing form 1065. Both of us actively operate the business as cosmetologists. However Box 14 (Self-Employment Earnings) on Schedule K-1 is empty

[theleeb]

Schedule K-1, Part lll, Box 1, Ordinary Business Income shows 19,391 for each of us (yeah, tough year!) but Box 14 (SE Earnings) is showing nothing.   Am I not calculating Self-employment earnings correctly?  I expected each of us to complete Schedule SE on each of our Form 1040 returns.  

Presumably we would check the "Limited partner or other LLC member" box in Part ll, Item G since neither of us are designated as a managing partner.  There were not any guaranteed payments to anybody.  Me and my partner simply split the profits 50/50 to report on Form 1040.  Perhaps the limited partner designation is a factor?

[M-MTax]

Perhaps the limited partner designation is a factor?

It is. Don't check that because it does not apply to you. Limited partners do not materially participate in the business and both of you do materially participate.