jtax
Level 10

Deductions & credits

It should not be double taxing you. Be sure you have indicated code A in box 14 (if that is what the K1 says).

 

TT will send the box 1 amount to Schedule E, Part II to be included in Schedule 1 line 5 and flow to 1040 line 8.  Ordinary income.

 

The box 14 amount will flow to Schedule SE and you will not be paying income tax on that but rather self-employment tax (social security and Medicare).

 

You can view this is forms mode using TT desktop computer software or preview the PDF forms in the cloud version to verify it is all being done right.

 

If after review you still see double taxation, let us know the form and line numbers you see the extra income and maybe we can figure it out.

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