How do I account for self employment taxes on Schedule K1 income?
We are an LLC being taxed as an S-Corp. During the past year, we calculated the self employment taxes on that income and included those amounts in our quarterly estimated payments. I was told by an IRS representative that when we filed our individual return, we would need to complete a Schedule SE for each of us to properly allocate the taxes (income tax, Medicare tax, and Social Security tax). We completed our 2018 1120S return and generated a Schedule K1 for each of us. We are using TurboTax Premier to complete our individual return. I have entered the Schedule K1 amounts under the Income section and the total amount of the estimated payments in the deductions and credits section. When I go to enter the self employment taxes paid under Other Tax Situations/Business Taxes, the program tells me that we are not liable for self employment taxes. How can I generate the Schedule SE so that we can report the taxes paid to Medicare and Social Security?