Skip to main content
Level 4
Dec 16, 2022 4:10 PM UTC
Question

Partner/Member Information

I have checked the box that the member is not actively involved in the business, yet the K-1 still allocates self employment income. In addition, this is the 1st return being filed and I select "As another LLC member" and not a Managing Member, but that selection does not hold after exiting and reviewing the parameters of that member. Thank you. 

2 replies

Level 15
Dec 16, 2022 4:37 PM UTC

The program is not yet complete and fully functional but does the figure appear on Line 14 of the K-1?

 

Enter Forms Mode, open your Schedule K-1 Worksheet, and uncheck the General box and check the Limited box.

Level 4
Dec 16, 2022 5:06 PM UTC

Thank you. This corrected my issue with self employment on the K-1. I appreciate the help.