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Schedule K Line 14a (Form 1065) calculating self-employment earnings in Lacerte

by Intuit Updated 11 months ago

Line 14a of the Schedule K is the sum of Self-Employment earnings for all partners.

  • General partners or LLC managers- self-employment earnings include their share of all income as well as manual self-employment income adjustments.
  • Limited partners- self-employment earnings consist only of guaranteed payments.

Lacerte computes line 14a using the Worksheet for Figuring Net Earnings (Loss) From Self-Employment from page 41 of the 1065 form instructions.

To generate Lacerte's version of the Self-Employment worksheet:

  1. Click on Settings.
  2. Click on Options.
  3. Select the Tax Return tab.
  4. Scroll down to the Federal Tax Options section.
  5. Locate the Self-Employment Worksheet option.
  6. Select Yes from drop down menu.

See Understanding Schedule K-1 self-employment income for partners and LLC members for more information on amounts included in self-employment income for partners and LLC members.

Lacerte Tax

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