- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Just to clarify... while adding to Box 14 obviously makes you owe more money, the actual K1 needs to report that income too. Its not correct for you to manually add to Box 14, as this field produces compensation. Reporting compensation that isn't reported as compensation on your K1 can actually lead to problems with the IRS, especially if you receive tax benefits that require compensation. Box 1 and 4 aren't compensation by themselves
‎June 6, 2019
5:01 AM