K-1 Income in Holistiplan

Wondering where to input your client's K-1 income? Read below to see where it can be entered in Scenario Analysis.

LLCs, S-Corps and other entities such as trusts and estates will issue K-1s to shareholder to report various types of income. Typically, K-1 income is reported on Schedule E, unless it is dividend/interest income that's passed through to a taxpayer. (In that case, dividend/interest income stemming from a K-1 will be reported on Schedule B.)

You'll want to discuss with a CPA or a tax professional to determine which section of the tax return is most appropriate to list your client's income.

In some cases, income reported on a K-1 can be subject to self employment taxes, as indicated on  Line 2 of Schedule SE below: