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Form 1120 S K-1 is showing all the S-Corps receipts in Box 17 as AC,

Level 1

1120S K-1 is showing in box 17 code AC , all the S-Corps gross receipts.  When transforming the K-1 input to the individuals tax return it calculating self employment income and taxes.  How do I correct

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Level 15

Don't input into that field on the individual return. It is not self employment income. Intuit might correct this one day.


ex-AllStar

View solution in original post

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Level 15

Don't input into that field on the individual return. It is not self employment income. Intuit might correct this one day.


ex-AllStar

View solution in original post

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Level 1

Thanks, That is what I was going to do.  I guess we are hoping Lacerte corrects this.  I am in no hurry t do the Sub S corps or the individuals yet.

Thanks again for the quick response.  Good Luck this tax season.

Level 15

You're welcome. Good luck to you, too. We're all going to need it.


ex-AllStar
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