Vanessa A
Expert Alumni

Business & farm

How are you entering the income?  Are you simply an investor?  Did you materially participate in prior years?  Is there a code in box 14?

 

If in box 14 there is a letter A, then this is saying your income is self-employment income.  Self-Employment income is subject to SE Taxes. To be self-employed, means you are employed and participating.  This would need to be changed on your K-1 in order for it not to be subject to SE Taxes. 

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