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Business & farm
I am having the same issue. I think box 1 and 14a in TurboTax are not working correctly. Entirely way too much coming out . 14a should be informational only, should only see the refund amount lessen with entry into 1 or the other. After entering ordinary income of 100k in box , I lose over 20-23kin refund from line 1. That is correct, however this should not happen a second time with box 14 a. If I enter the 100k again in box 14a (same amount that is already in box 1) it takes another 15k. So in total would be losing 23k from box1 and15k from box 14a, which is 38k on 100k ordinary. That is a tax rate of 38% this can not be correct. I would love to have this resolved for sure as this is very confusing.
what tax would you safely expect on 100k ordinary business income line 1 of a K1. I am def not in a 38% tax bracket.