I have a question regarding self-employment income and the correct way to input that income in the TurboTax software for my specific situation. I operate a single-member LLC that is a disregarded entity for tax purposes which provides consulting and other services. That LLC is in turn a member in a multi-member LLC that is taxed as a partnership (Form 1065). I received a Schedule K-1 from the partnership (which was sent to me directly because my single-member LLC is a disregarded entity). I believe I need to report the income from the Schedule K-1 on my Schedule C since I materially participated in the business and the income is subject to self-employment taxes.
I assumed that when I go into TurboTax Online and go to Self-Employment, there would be an option there to indicate that the source of the income was from a K-1, but that isn’t an option (it only has 1099, 1099-NEC, etc.). What are the right steps to get TurboTax to fill out the forms in the right way?
