1) So you are saying I have to be taxed $4,500 on Box 1 as 'Ordinary business income (loss)' PLUS $2,800 on Box 14 Code A as 'self-employment tax' from $20,000 total income that I generated from the partnership.
2) Why doesn't 1040 indicate/show any info about Schedule K1 Box 1? It indicates ONLY Box 14 Code A.
