Tag: 'k-1 income'
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From the community
I received W2 income and a K-1 from the Sub S company I own. Does the W2 income receive a 20% reduction in income for tax purposes as my K-1 income?
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From the community
How do I stop a form from calculating but still keep the form? Then reverse the process. I'd like to see what tax impact specific K1s are making on my tax due.
I'd like to see what tax impact certain K1s are have on my tax refund.
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From the community
"Since Section 199A income is reported in 14 of this K-1, we need name and employer ID number for the business that generated this income." K-1 does not provide that?
The K-1 does not provide name or EIN for this income. What should I do?
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From the community
Should I file an amended 2017 return for an LLC that closed in 2017 but had carryover income in 2018 or should I file the income the K-1 income in 2018?
The LLC in question closed in 2017 however some cash was held back to cover expenses and taxes. At the end...
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From the community
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...
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From the community
I have k-1 income. Why am I not getting a 199a qualified business income deduction?
My husband and I have a business reporting as a partnership. Some answers here say they QBI deduction...
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From the community
I filed a W2 and a K1. My W2 earnings 38k were taxed. My K1 income was 33,000 my turbo tax rate is 10.56%. Total earnings 80k. Is this correct?
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From the community
Sch K-1 income not showing in income summary or 1040. All questions answered correctly. Ideas?
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From the community
K-1 form (1041) and a California state K-1 form (541), but Turbo Tax is only guiding me to complete info from the federal 1041. What happens with the state form 541?
I received both a federal K-1 form (1041) and a California state K-1 form (541), but Turbo Tax is only...
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From the community
Trying to enter a loss from a K-1 (<$1000) and Turbo Tax enters it as $0. The K-1 has box 2 filled in with the loss, and box 20 with codes Z and AB; that's it. Any ideas?
My partners have their taxes done by professionals and claim a Schedule E gets created as well as the K-1,...