I don't know this, but I really doubt if Box 16E would carry anything over. That is only for your information for that particular year.
No, there isn't Social Security taxes on the income from a S-corporation K-1. However, if you worked for the corporation and received money from the corporation, you are also required to receive a W-2, and the corporation is required to file (and pay) all of the associated payroll forms, including Social Security. If that was not done, the corporation really need to go to a tax professional straighten things out.
