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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15018
Experience:  15years with H & R Block. Divisional leader, Instructor
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Hi, I have an LLC and Im doing my taxes with turbotax. I did

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Hi, I have an LLC and I'm doing my taxes with turbotax. I did the business and now I'm working on the personal, but when adding my income from K-1, the program asks me to check the boxes with amounts. I entered the box 1 Income & box 19 distributions, but box 12 self employemnt has the same amount from box 1, do I have to enter that amount too?
My K-1 has the following amounts: Box 1 (Ordinary Business Income)= 4765
Box 12 (Section 179 deduction)= 203
Box 14 (Self Employment earnings )=
C= 4935.

Box 19 (Distributions)=
A= 2310.

What do I have to enter in my personal return ?


The amounts in Box 14 A and C will be used to calculate your Self Employment tax.

Box 14 A will be reduced by the box 12 amount prior to calculating SE tax.

You need to copy that K1 exactly into the TurboTax program and let it carry the amounts to the proper area of the 1040 tax return for you. You can check after to make sure the reduction is made on the SE form for the Box 12 amount.

That is really the good thing about using software, if you copy your documents correctly and answer right then the program will take the information to the form it needs to be reported on. But, it does not hurt to know where that information is supposed to go.

I sincerely XXXXX XXXXX information is helpful,

Robin D. and 2 other Tax Specialists are ready to help you

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