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Gross income from line 3a is going to line 14c on the K and then to box 14, code C on the Schedule K-1. How is this number calculated? The amount on line 14c is non-farm income. It is needed for the partners to figure their net earnings from self-employment under the nonfarm optional method on their 1040 returns.
To enter a Schedule K-1 into an individual tax return, from the Main Menu of the tax return (Form 1040) select: Income. Rents, Royalties, Entities (Sch E, K-1, 4835, 8582) K-1 Input - Select either New or Pull.
Box 13, Code W on Schedule K-1 reports expenses that do not fall into any other category of deductions. For example, Management Fees are an expense charged to the SPV that appear in box 13W and are classified as other miscellaneous itemized deductions subject to the 2% AGI limit.
STMT apparently means statement attached, and I do have an attached statement. That talks about: Line 14 - Other information.
Schedule C is for reporting of sole proprietorship income expenses. K-1 partnership income from an LLC is not sole proprietorship income. You may want to seek professional assistance.
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Schedule K-1 (Form 1041) is used to report a beneficiarys share of an estate, including income, credits, deductions and profits. Beneficiaries of an inheritance should receive a K-1 tax form inheritance statement for the 2023 tax year by the end of 2023, or shortly thereafter in January for some rare cases.

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