Skip to main content
Level 4
April 15, 2025
Question

K-1 guaranteed payments and self employment income

  • April 15, 2025
  • 2 replies
  • 39 views

In a K-1 for a general partner, if box 1 income and guaranteed payments to partners add up to the same amount shown in Box 14 A self-employment income, isn't that double counting or do Box 1 and 4 generate ordinary income while Box 14 adds in SE tax? Thank you!

This topic has been closed for replies.

2 replies

Just-Lisa-Now-
Intuit Community Champion
April 15, 2025

You're thinking of an SCorp, where you dont pay SE taxes on the profit.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 4
April 15, 2025

Thank you, yes I pretty much answered my question as a result of asking it. :]