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

[tbay]

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

[sjrcpa · Accepted solution]

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

[tbay]

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.

[sjrcpa]

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