Neal41
New Member

How do I get turbo tax to figure the Self employment tax on my K 1 amount?

partnership

Get your taxes done using TurboTax

To get to the K-1 (1065, I'm guessing?):

1.  Click Federal on the left-hand side menu.

2.  Click Income & Expenses across the top.

3.  Scroll down to S-corps, Partnerships, and Trusts and click Show more.

4.  Click Start or Revisit by Schedule K-1.

Click through you get to a screen that asks for info in box 14.  There you'll put your self-employment income, 

  • which carries over to your Schedule SE which figures your tax on line 5
  • which carries over to line 57 of Schedule 4 
  • which carries over to line 14 of Form 1040
  • which gets added into your other taxes to arrive at line 15, total tax.