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The Gross Receipts included in 1120S Schedule K-1

Level 1

In preparing an 1120S Schedule K-1, the gross receipts show up in in box 17 AC. If this is input on the taxpayer's 1040, this causes self-employment income to be calculated. What if anything, are other preparers doing to override this? Even if I override the box for 448 c with a -1, the gross receipts show up in the statements support. Is there somewhere in the ProConnect software to override this showing up in the statements? 

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2 Replies 2
Level 15

Don't input it in the 1040 until Intuit fixes this.


ex-AllStar

Or if you do enter it, enter it in a field that is looking for gross receipts, not one looking for SE tax.