How to enter guaranteed payments excluded from self-employment tax in ProConnect Tax

By default, ProConnect Tax treats guaranteed payments as derived from a trade or business as defined in section 1402(c). Per the Instructions for Form 1065, these guaranteed payments should be included in self-employment income on line 14a. If the partnership's guaranteed payments were not from a trade or business as defined in section 1402(c), you can remove the amount from line 14a. Here's how:

1. Go to Input Return ⮕ Schedule K ⮕ Other Schedule K Items ⮕ Other Schedule K Items
2. Across the top, select Taxes
3. Enter the amount you want to generate on line 14a in Net earnings from self-employment [Override], or enter -1 for none.