K1 Partnership Box 14C

[Possi]

Once again, Taxwise has left me in the lurch over a K1 entry. I'm just about over it...

Partnership K1, Box 14 A is clear, but there is a much larger amount in Box 14C.

TTB 21-4 tells me that it is "qualified production activities income" but does not tell me how to treat it.

I can only guess that it was the gross income, and does not go anywhere on the personal return.

Am I right? I hate to guess and let it go. I do have the total income and the total income subj to SE tax. That much I know....

[David1980]

(assuming 1065 k-1) 14c is used to calculate the optional SE tax method (based on gross instead of net). Normally you ignore it. It can be useful to generate SE credits for when they retire & can affect EIC. Look at Schedule SE part II.

[Possi]

gracias

Thank you, David.

Since the only Corp return I do is my own, and I do not do partnership returns, I really didn't know where that number came from. I wish my tax program had some sort of explanation instead of "manually enter" next to the box.