Question

K1 income and Social Security Earnings

Forum|Forum|2 years ago
April 2, 2024
2 replies
0 views

I am taking SS, but my wife is still working. How can I tell if her K1 Partnership earnings are being included in calculating her SS "pension" when she reaches age 70?

DMarkM1

Partnership K1, Box 14, Code A indicates self-employment income which would be subject to social security taxes and thus be part of her social security benefits calculation. Additionally, the Box 14, Code A amount goes to her Schedule SE to calculate the self-employment taxes.

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O

OldCarGuyAuthor

I found all the data for K1 and SS earning are correct for 2023 return

BUT, the 2022 return is incorrect -- although it shows her K1 earning as income on Sec C and on the LLC return, it does not show up on Sec D2 on line 19 ?? help

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annkernahan

I have the same issue with 2022 social security statement. K-earnings plus W-2 earnings are completely missing. Statement shows 0 earnings for that year.

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OldCarGuyAuthor

thanks for such a clear answer -- will ck my inputs