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J
JRMW
April 15, 2020
Question

No SE Tax?

  • April 15, 2020
  • 1 reply
  • 0 views

We file K-1s for a multi-member LLC, but when we bring that income to the 1040 we didn't have self-employment tax. Is this right?  

    1 reply

    Rick19744
    Rick19744
    Employee
    April 15, 2020

    So this can be a lengthy discussion and more technical than what this forum is designed for, however, a couple of questions:

    • What type of activity does the LLC perform?
    • Are you material participants in the LLC?
    • What box is checked on your K-1 line G?
    *A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.
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