I have a K1 showing my distribution payment from Limited Family Partnership do I still have to fill out the Farm Income and Farm Rental?

If I have a K1 (form 1065) that shows I recieved a distribution from farm rental. Do I still have to fill out the next line in turbo tax that ask for farm income or farm rental?

posted

Just enter the information from the K-1.

The rental income and expenses are factored into the matrix at the partnership level.

I invested $50,000 in 2021 as a limited partner. In 2024, the partnership was dissolved and I sold my interest for $1. How do I report the regular and AMT loss?

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I have a K1 showing my distribution payment from Limited Family Partnership do I still have to fill out the Farm Income and Farm Rental?

I have a K1 showing my distribution payment from Limited Family Partnership do I still have to fill out the Farm Income and Farm Rental?

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I have a K1 showing my distribution payment from Limited Family Partnership do I still have to fill out the Farm Income and Farm Rental?

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I have a K1 showing my distribution payment from Limited Family Partnership do I still have to fill out the Farm Income and Farm Rental?

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