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Deductions & credits
If from what you are telling us that the earned income is being generated from that self employment tax deduction and you got it properly eliminated, then you should be good to go. Bear in mind though that you may have had some self employment income from Box 14 on that k-1 so make sure that the income doesn't somehow also get eliminated when you get rid of your self emplyment tax deduction. I suspect that you may have self employment tax this year from an entry on that Box 14 which you didn't have in prior years. Box 14 is self employment income from the company that is issuing you the K-1. As long as you don't eliminate this reported income from your tax return, then you'll be fine
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March 24, 2023
11:34 AM