TaxGuyBill
Level 15
10-16-2023
05:18 PM
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@IRonMaN wrote:
But did Intuit actually write that or was that some half baked ramblings of another preparer that didn't have a clue as to what day it was?
That was my first thought too, so I Googled it and Intuit DID write that (although they are only instructing the 'how' for IF somebody wants to do that).
How do I report self-employment income on a Schedule K-1 Worksheet for an S corporation?
Typically, an S corporation will issue a Form W-2 to its employees or shareholders. In some cases, they may issue a 1099-Miscellaneous, which will be linked to a Schedule C in ProSeries. If neither of these is the case and you still wish to calculate self-employment tax for income from an S corporation, you may do the following:
- Open the Schedule SE Adjustments Worksheet.
- Scroll down to Part II - Nonfarm Profit or (Loss).
- On Line 6, enter the amount you would like subject to self-employment income.
