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Business & farm
Box 14 with Code A simply indicates how much of the amount in Box 1 is self-employment income. You have to pay self-employment tax on the amount reported. [That's why you might think you are being taxed double.]
Please fill out the K-1 entry as you see it -- with amounts in BOTH box 1 and Box 14 with Code A. Either do it the correct way or deal with the IRS if they question it.
Please fill out the K-1 entry as you see it -- with amounts in BOTH box 1 and Box 14 with Code A. Either do it the correct way or deal with the IRS if they question it.
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‎June 6, 2019
1:06 AM