Business & farm

A few more comments:

• I concur with all of @Anonymous_ comments and open questions.
• As a shareholder in an S corporation, you are responsible for maintaining your tax basis in this entity structure.
  • This can be done using excel
  • The IRS created form 7203 that is required to be included with your personal tax return if you meet certain criteria.  Based on the limited information, you need to include this when filing your personal tax return.
• Your question title may need a little understanding.  The income reported on the S corporation Schedule K-1 is not earned income.  Your W-2 earnings is earned income, but that is reported separately from the K-1 information as noted by @Anonymous_ 
• You will need to understand how form 7203 works as the amounts do not necessarily pull from the K-1, nor do they potentially limit what is input in other areas of the TT input.
• As you may know, your personal tax return is now late.  Also not sure the timing of TT being able to efile this return;  TT will close the ability to efile returns as we get closer to the new tax season.  Just not sure when this happens.
• Based on the questions, it is most likely in your best interest to get some professional help; this minimal investment may certainly outweigh the cost of any potential filing errors.  Pass-through entities get complicated very quickly and may easily generate correspondence from the IRS if something looks out of line compared to their internal algorithm(s).