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Solved

K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it.

Forum|Forum|5 years ago
March 6, 2021
1 reply
44 views

Box 1 is ordinary business income. Box 2 is rental real estate income. Both amounts are present on the K-1 for, but TurboTax says they are not allowed... I should include another K-1 for the separate activity. What would be included on that 2nd form?

TurboTax Online

Best answer by AnnetteB6

Yes, you need to enter a second K-1 to handle the income reported in box 2. The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.

As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1. It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.

AnnetteB6Answer

Level 15

Yes, you need to enter a second K-1 to handle the income reported in box 2. The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.

As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1. It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.

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