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Level 4
December 16, 2022
Question

Partner/Member Information

  • December 16, 2022
  • 1 reply
  • 11 views

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. 

1 reply

Level 15
December 16, 2022

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
December 16, 2022

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