Schedule K-1 Tax Calculator
Turn common partnership K-1 income categories into a transparent federal planning reserve without treating every box as the same kind of income.
Estimated federal tax
Ordinary taxable amount
Self-employment tax
Planning estimate only. Basis, at-risk, passive-loss, QBI, entity type, distributions, credits, NIIT, and state tax can change the return result. Enter only the amount your K-1 instructions treat as self-employment income.
What this tool covers
Calculation scope
- Keeps ordinary income and long-term capital gains separate.
- Collects the self-employment-tax amount explicitly because partner status matters.
- Does not assume cash distributions equal taxable K-1 income.
Frequently asked questions
Do I owe tax if the partnership did not distribute cash?
Possibly. Partners generally include their distributive shares of partnership items whether or not the partnership distributed cash.
Is all Box 1 income subject to self-employment tax?
No universal answer applies. General-partner, limited-partner, service, and guaranteed-payment rules can differ. Enter only the amount the K-1 instructions and your facts treat as self-employment income.
Why is this not a return-preparation calculator?
Basis, at-risk limits, passive activity rules, QBI, credits, NIIT, state sourcing, entity type, and special box codes can materially change the return.
Sources
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Self-Employment Tax
15.3% on 92.35% net, 12.4% SS to wage base, deductible half
Section 199A QBI Deduction
20% qualified business income, W-2 wage / asset limits, phase-outs
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