I have been trying to get help since last night concerning Self Employment information under the State Taxes. We are a 2 member LLC, so why is it asking about self employment information.
The question is, You have a South Carolina net profit(loss) of all federal Schedules c of $0.
1. What is one half of all the self employment tax related to the $0 listed above.
2. What is one half of the self employment tax on partnership income related to south Carolina (do not include any of the amount from question 1 here)?
I do not understand what to do here or where to look to get the answer, I have called in and got one gentlemen who put me on hold to transfer me and i was suppose to get a call back and never have. Can someone please help here?
Is your two member LLC husband and wife? If so, then can treat the LLC as a Qualified Joint Venture and income flows through your respective schedule C's. If not, then you enter your LLC's K-1's for your business.
PaulaM thank you for your reply and yes ma'am we are husband and wife. I do have a schedule C for both of us. So in the State how do i get passed this and I did not mention (was not thinking of it) but I am also a independent sales rep and i have a schedule c for it as well. if i hit enter then it says i have entered too much self employment on the previous screen . the two amount can not be greater than the amount on the federal return.
Can you try to enter 0 for both question 1 and 2 if that is applicable to your situation? Enter 1/2 of the SE tax shown on your 1040 and if it is zero, enter zero. And if you have no partnership income, then enter zero for question 2 also.
Your situation is difficult to solve in this format. It would be best if you can contact support again. They are in a better position to resolve if they can view your screen.
You can contact TurboTax at either link below.