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- Self-Employment Tax Calculations - K1 Section 59 (e)(2)
Self-Employment Tax Calculations - K1 Section 59 (e)(2)
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Mr Tax NYC
Level 1
Thursday
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I am entering a Self-Employment loss from a K1 (1065) Box 14 Code of $131K which is correcting flowing the Self Employment Worksheet which allows a netting of $303K of Sch C activity. However, the K1 is also reporting $131 K in box 13 Code J and chooses to take the entire $131K loss in the current year. The problem is that the SE adjustment worksheet is doubling the offset to $262K against the $303K Sch C activity. This incorrectly reduces "Net Self-Employment" by $131K and I do not see any other option but to overwrite the field in the SE Worksheet.
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