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April 18, 2023
Question

Schedule K-1 Box 14

  • April 18, 2023
  • 1 reply
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I need to enter self employment income for Box 14 but all it lets me see is K-3 entries - foreign income etc. How do I get to a page that will allow me to enter A Self Employment income from my K-1? 

    1 reply

    April 18, 2023

    It sounds like you are in the wrong Schedule K-1 section. There are three types of Schedule K-1 and you are trying to enter a 1065 Schedule K-1 into a 1120-S Schedule K-1 based on the entries that you say don't match. 


    To correct this you need to delete what you have entered so far and then start over in the correct form. To delete your K-1:

     

    1. Open your return, select Wages & Income, and scroll down to Tax Tools on the bottom of the left side menu.
    2. Select Tools.
    3. Click on Delete a form (third on the list at the bottom of the screen)
    4. Find Sch K-1 Wks-S Corporations (name) on the list of forms.
    5. Click Delete to the right.
    6. Confirm your Delete.
    7. Click Continue in the lower right. 
    8. Click Continue with my return

     

    Next, enter the correct type of Schedule K-1. First of all look at the upper left corner of your Schedule K-1, you will see the source document right below Schedule K-1, in parentheses:

     

    1. Under  Wages & Income, find Schedule K-1.
    2. Click Edit/ Add to the right.
    3. Answer the first question Yes.
    4. Click Start to the right of the option that matches your form.  
    5. Continue to report your Schedule K-1. 
       
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