K1 form - line 14

[OldCarGuy]

some how in the the line 14 box in addition to self employed earnings (which is correct) i got a new entry,  "C" was added and an ammount I do not recognize -- what is it? where did it come from?

tkx

Jim

[Mike9241]

1065 - k-1 -box 14 item C is computed by Turbotax

Code C. Gross nonfarm income. If you're an individual
partner, use this amount to figure net earnings from
self-employment under the nonfarm optional method on
Schedule SE (Form 1040), Part II.

[OldCarGuy]

this is the frst time ive seen this in 5 years? It's for our car club.  we ever make or lose for than $50.  The system put over $2000 in boc 14?

[OldCarGuy]

it not this way on any for the last 5 years returns -- i must have checked the "wrong" box -- any ideas what i did differant? 

[OldCarGuy]

Mike, what input selection creates this designation? Since this is the first time its shown up, I assuume I entered to new variable or mistakenly changed something?  Partner classifaction? QDI desigation? ???

[Mike9241 · Accepted solution]

Perhaps this is the reason. 

The non-farm optional method is available for determining net SE earnings from nonfarm business and is available when net nonfarm profit is less than $7,849 and also less than 72.189% of gross nonfarm income. in addition, SE income must have been $400 or more in 2 of the last 3 years. it can not be used for more than 5 years, whether or not consecutive.

[OldCarGuy · Accepted solution]

super -- very helpfull

[OldCarGuy]

Mike, this has gortten above my "pay grade" -- can you recomend one of the Tubo Tax Pros who could help me

--either give me a link or you contact them and have them contact me

[Mike9241]

No one from Turbotax will call you. you will need to call them.

5am-5pm Pacific Time (8-8 Eastern) Monday - Friday
https://support.turbotax.intuit.com/contact
800-446-8848