Nat Hussey
Level 3

In a K-1 for a general partner, if box 1 income and guaranteed payments to partners add up to the same amount shown in Box 14 A self-employment income, isn't that double counting or do Box 1 and 4 generate ordinary income while Box 14 adds in SE tax? Thank you!

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Just-Lisa-Now-
Level 15
Level 15

You're thinking of an SCorp, where you dont pay SE taxes on the profit.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Nat Hussey
Level 3

Thank you, yes I pretty much answered my question as a result of asking it. :]