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rodmcinerney
Level 3
June 12, 2021
Solved

How do you exclude self employment tax earning on 1065 K-1 item 14a relating to schedule F (patronage dividends).

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sjrcpa
sjrcpaAnswer
Level 15
June 14, 2021

I agree with what you are saying but this is a partnership return.


I got that. Maybe it should be reported on the rental schedule instead of Sch F?

The more I know the more I don’t know.
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9 replies

sjrcpa
sjrcpa
Level 15
June 12, 2021

If the farm income is SE income why wouldn't the patronage dividends also be?

The more I know the more I don’t know.
    rodmcinerneyAuthor
    Level 3
    June 12, 2021

    All farm income is 1099-patr income with corrsponding expenses ie seed real estate taxes insurance etc. Taxpayers, partners are in late seventies and do not farm themselves. Partnership was formed as a LLC partnership.

    sjrcpa
    sjrcpa
    Level 15
    June 12, 2021

    Did you check the box for Did not Materially Participate?

     

    The more I know the more I don’t know.
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