Blackstone LP K1 TT says create 2 K1's due to ord inc & rental inc (Part III Box 1 & 2). How do I allocate inc, credits... between 2 K1s? (2 similar c?, but opp answrs)

[Rick19744 · Accepted solution]

You should enter 2 K-1's.  Enter box 2 on its own K-1.  The second K-1 should include all other boxes, excluding box 2.

[rubs76]

I did exactly this but it is only showing amount from box 1 on 1040 and not from box 2, for example i added -$380 from 1st box on 1st K-1 and -$250 from box 2 on 2nd K-1 so i was expecting $-630 but it only showing $-380

[twa2europe]

Intuit really needs to make K-1's easier. For example, if Box 2 should have its own K-1 then TurboTax should be able to generate a separate form with just the Box 2 information. I find it interesting that I talked to 2 TurboTax CPA advisors and both told me two different things about those boxes. You'd think the program would be be crystal clear with all this stuff. I am getting very disillusioned with TurboTax.