I followed these instructions "Where do I enter a k-1"
When I entered my k-1 info into Turbo Tax it only shows up in personal income, not in business income, now my business income is showing a loss and I cannot deduct my full home office expenses.
How do I get this to show up as business income?
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Thanks for the reply, but it doesn't solve my problem.
I am a sole proprietor, this company used to send me 1099's and I would enter them as business income, now they are sending me this schedule k-1, where I am a limited partner, and the only boxes that have values are the "payments for services rendered".
The k-1 is specifying the EIN of my sole proprietorship, I need to be able to enter this into the business side of Turbo Tax, so my business shows a profit.
"payments for services rendered" what line # on the k-1? this is not a standard description on any line of a partnership k-1. the partnership may be issuing you a k-1 when it should be issuing you a 1099-NEC. there is no way to link a k-1 to your schedule C. Not reporting the k-1 as such on your tax return will cause you problems with the IRS.
"payments for services rendered" seems inconsistent with being a limited partner.
The only boxes that are filled in are
4a "Guaranteed payments for services" = my income + health insurance
13 "Other Deductions" = (M) Health insurance payments
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