Calculate Schedule K, line 14a - Net earnings from self-employment

UltraTax CS calculates self-employment earnings (SE) per activity for partners in the Partner's Self-Employment Worksheet. The calculation is based on the type of partner you select in
View
,
Partner Information
, then the
Partner
tab.
  • General Partner
    and
    LLC Member (SE Income)
    calculate SE for all items.
  • Limited Partner
    and
    LLC Member (SE on services)
    calculate SE only on guaranteed payments for services. Enter the amount of guaranteed payments for services and allocate the amount on the SepK screen of the related activity (Inc & Ded, Farm, Farm Rent, Rent & Royalty, Schedule K). The amount you enter will allocate to all partners based on their profit percentage. Select
    Ptr Alloc
    to allocate this amount to the partners.
    note
    To prevent calculation errors, only allocate guaranteed payment amounts on the SepK screen of the activity (Inc & Ded, Farm, Farm Rent, Rent & Royalty, Schedule K) where you entered the guaranteed payments.
  • LLC Member (No SE)
    won't calculate self-employment earnings.
note
Enter an amount in the
Net earnings (loss) from self-employment (Force)
field in the SepK screen to override the self-employment income that UltraTax CS calculates. Use
Ptr Alloc
to allocate this amount to the partners. This removes the supporting worksheet for the partners.

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