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Business & farm
I have the same problem. Basically, the software doesn't seem to be able to handle the K-1 entries correctly. When I look at the generated schedule 1, none of the adjustments to income are correct that originate from the K-1:
1. Line 27: The deductible part of self-employment tax is off by 5 figures;
2. Line 28: the retirement plan deductions are capped at 15,500. Makes no sense - the IRS limit for people under 50 is 18,500 and 24,500 for people over 50. It doesnt account for additional retirement deductions that it should.
3. Line 29: the self employed health insurance deduction is not there, even though I selected the box mentioned above.
Was anyone able to get this to work?
‎June 29, 2019
6:44 PM