LLC Self Employment Tax Question My business is an LLC electing to be taxed as a partnership. I was reviewing my partnership and personal tax returns from last year in preparation for going to meet with the CPA who prepared them. I noticed that my K-1 reported self employment income but my personal return did not have a Schd SE and no self employment tax was calculated on my personal return.
Did my CPA not include a Schd SE on my personal return because my capital account has a deficit balance?
Thanks for any help you can offer! |