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Level 1

Solved

Why do I have to repeat putting in information on the K-1 when 1 and 2 boxes have information

Forum|Forum|7 years ago
June 6, 2019
1 reply
11 views

I am having to put in sections 4-20 all over again. why? and are the amounts counted twice?

TurboTax Premier Online

Best answer by Rick19744

If your K-1 has amounts in both boxes 1 and 2 you need to do the following:

Set up two separate K-1 input forms
On the first input form enter all amounts EXCEPT box 2
On the second input form enter ONLY box 2

Answer

Level 13

If your K-1 has amounts in both boxes 1 and 2 you need to do the following:

Set up two separate K-1 input forms
On the first input form enter all amounts EXCEPT box 2
On the second input form enter ONLY box 2

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.