Reply To: NIIT SE TAX OR NEITHER ?

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#17385
caesark
Participant

Kaye,
Yes, a K-1 is in the making for 2020. I have concluded the taxpayer meets the test for material participation and therefore is not subject to NIIT on the LLC income. However, I am anticipating the K-1 will report the income in Box 14. If that is the case, can you envision any circumstances that would support not reporting SE income?
Any thoughts you have would be appreciated.