Have someone with a K-1 from a partnership (1%own) who has net income and guaranteed payments and has self-employed earnings on Ln#14,who wants to do a SEP on her own and claim on 1040 Ln#28. Can not find info to tell me whether she is "self employed" for purposes of the SEP. Can someone help me. Thanks.

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Too late now - past the filing deadline to make a contribution.

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>>a K-1 from a partnership<<

See Box 14 on k-1 for income eligible for SEP contribution. The SEP must be established by year end, with contributions by extended due date.

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I think the IRS disagrees with you regarding the establishment of a SEP. From the IRS website:

Is there a deadline to set up a SEP?

A SEP can be set up for a year as late as the due date (including extensions) of the business?s income tax return for that year.

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