Error on K-1 form 1065 - Data in Box 1 and Box 2

My K-1 has a number in both box 1 and box 2. I marked multiple for types of activity. I am getting an error during the Final review. The error says box 2 should not have an amount; use delete to remove the entry. What do I do?

1507

Expert Alumni

Jun 4, 2019 2:12:49 PM

Yes, if you have two business activities reported on one Schedule K-1, you must create another K-1 for the second activity.

Enter all information except Box 2 or 3 on the first copy.

On the K-1 copy, enter the header info (name, EIN, address, etc.) and only the income in Box 2 (or Box 3).

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Error on K-1 form 1065 - Data in Box 1 and Box 2