@bmshah1 wrote:
positive value with code C. While entering the K1 in TT it is asking whether I should use the non-farm optional method to calculate self-employment tax?
That is NON-farm gross income. The other comments about being a farmer have nothing to do with this.
In most cases, you don't want to use the optional method. But there are some circumstances where you may want to, such as (1) you want to build Social Security credits and (2) you have little-or-no "earned income" and want to use the optional method to qualify for the Earned Income Credit and/or the refundable portion of the Child Tax Credit.
