1065-US: Calculating Schedule K, line 14a - Net earnings from self-employment (FAQ)

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Question

How does UltraTax CS calculate Schedule K, line 14a - Net earnings from self-employment?

Answer

UltraTax CS calculates self-employment earnings (SE) per activity for partners in the Partner's Self-Employment Worksheet based on the type of partner selected in the Partner tab in the Partner Information window in View > Partner Information.

Note: Enter an amount in the Self-employment income (Force) field in Screen SepK to override the self-employment income UltraTax CS calculates. Use the Ptr Alloc button to allocate this amount to the appropriate partners. (This will eliminate the supporting worksheet for the partners.)

Related topic: Self-employment FAQs (1065)

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