Unreimbursed Partnership Expenses should not affect your SEP contribution because this is from a separate business. Your limited partnership activities should have no impact because this is passive income generated from a partnership interest. This is like having an investment account or a retirement account.
Now my question to you is, how is your income reported on your k-1. if it is reported as business income, then this may be why the UBE expenses are reducing self-employed income because of the reduction of earned income. See if the income from this k-1 is reported in Box 1 and let me know the answer.
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