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The amount reported in box 1 of your K-1 is your share of the ordinary income
(loss) from trade or business activities of the partnership
. The amount (if any) reported in Box 14 of your K-1 is your self-employment income.
As a limited partner, your self-employment income includes guaranteed payments, such as salary and professional fees received for services performed during the year. It does not include a distributive share of partnership income or loss (box 1 of K-1).
The following link contains excellent, detailed information regarding the criteria for Net Investment Income Tax:
Please let me know if you require further information or clarification.
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