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2msmokehouse
Level 1
April 11, 2021
Question

1120S K-1 line 17AC

  • April 11, 2021
  • 2 replies
  • 18 views
How do I delete the amount on line 17 code AC? when it gets put in the individual's tax return it is getting self employment taxed and that is incorrect.
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2 replies

abctax55
abctax55
Level 15
April 11, 2021

Check out the new IRS codes, for 2020.  They are buried deep in the instructions, page 23-24-25?

HumanKind... Be Both
    sjrcpa
    sjrcpa
    Level 15
    April 11, 2021

    Don't enter it on the SE line in the individual return.

    The more I know the more I don’t know.
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