https://ttlc.intuit.com/community/business-taxes/discussion/my-multi-member-llc-has-no-employees-why-is-an-ordinary-business-loss-from-form-1065-schedule-k-line/01/572458#M22382 <P>My multi-member LLC only holds raw land with no income,and pays property tax on the land which results in a loss each year equal to the amount of the property tax paid.&nbsp; The amount of this property tax payment shows up as a business loss on Form 1065, Schedule K, Line 1. This same amount is then transferred to Schedule K, Line 14a as "net loss from self-employment"&nbsp; Since this LLC has no employees, why is self-employment part of the calculation, and how do I get rid of this if it is in fact incorrect?</P> Wed, 05 Jun 2019 21:30:16 GMT db493 2019-06-05T21:30:16Z https://ttlc.intuit.com/community/business-taxes/discussion/my-multi-member-llc-has-no-employees-why-is-an-ordinary-business-loss-from-form-1065-schedule-k-line/01/572458#M22382 <P>My multi-member LLC only holds raw land with no income,and pays property tax on the land which results in a loss each year equal to the amount of the property tax paid.&nbsp; The amount of this property tax payment shows up as a business loss on Form 1065, Schedule K, Line 1. This same amount is then transferred to Schedule K, Line 14a as "net loss from self-employment"&nbsp; Since this LLC has no employees, why is self-employment part of the calculation, and how do I get rid of this if it is in fact incorrect?</P> Wed, 05 Jun 2019 21:30:16 GMT https://ttlc.intuit.com/community/business-taxes/discussion/my-multi-member-llc-has-no-employees-why-is-an-ordinary-business-loss-from-form-1065-schedule-k-line/01/572458#M22382 db493 2019-06-05T21:30:16Z https://ttlc.intuit.com/community/business-taxes/discussion/if-you-are-registered-as-a-partnership-and-you-are-req/01/572481#M22389 <P>If you are registered as a&nbsp;partnership , (and you are required to file on form 1065), you would be subject to self-employment taxes. K-1's include either the amount of self-employment profit or loss in box 14. Since you have a loss, your K1- box 14a would show each partners' share of that self-employment loss.</P><P>Please see the link below for more information on form 1065 and self-employment earnings and losses.</P><P> <A rel="nofollow" href="https://www.irs.gov/instructions/i1065sk1#idm140366837093328" target="_blank">https://www.irs.gov/instructions/i1065sk1#idm140366837093328</A> <BR /> </P> Wed, 05 Jun 2019 21:30:44 GMT https://ttlc.intuit.com/community/business-taxes/discussion/if-you-are-registered-as-a-partnership-and-you-are-req/01/572481#M22389 SherylSTaxExpert 2019-06-05T21:30:44Z