I believe Guaranteed payments are subject to SE tax, but Turbo tax (premier version) does not calculate SE tax if the guaranteed payments are in Box 4 of the K-1. However, if Box 14 in the K-1 is filled in, Turbo Tax does calculate SE Tax. For purposes of calculating the correct tax, is it ok to put the Box 4 amount in Box 14 instead? This will certainly calculate the SE tax due, but I want to be sure that this is an ok work-around.
