Thank you @DaveF1006 . I appreciate the confirmation. It is line 14, but turbo tax calls that partnership gain or loss unless you pick a farming alternative, which is not my situation. The problem may be that it is not passive. It relates to a consulting firm. I understand that the UPE would affect my SE Tax, but I still thought that based upon the IRS guidance quoted above it should not affect the SEP calculation for my own business.
Turbo tax starts the SEP calc by pulling net profit from self employment from the SE Tax worksheet, so if my understanding of the law is correct, I need a workaround. Would I make an adjustment in part II 1(b) of the Keough/SEP worksheet?
Thoughts?
