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Level 2
February 19, 2020
Solved

Self employment tax income flowing from 1120S K-1

  • February 19, 2020
  • 10 replies
  • 39 views

How do you get ordinary business income on a K-1 1120s to flow to Schedule SE?

This topic has been closed for replies.
Best answer by sjrcpa

You were told wrong. That would be true (most likely) if it was a partnership K-1.

10 replies

Level 2
February 19, 2020

Ordinary income from 1120s is not subject to SE.

BuckeyeAuthor
Level 2
February 19, 2020

I was told by the CPA firm that prepared the 1120 S that ordinary business income on line 1 of K-1 is subject to ss taxes.

BuckeyeAuthor
Level 2
February 19, 2020

More specifically, line one is subject to ss tax.  It is ordinary farm business income.

Just-Lisa-Now-
Intuit Community Champion
February 19, 2020

Your client should have received a W2 from the S-Corp for his wages/earned income.

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