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prakshep
New Member

I have received a K1 from a pass through entity. This entity is a pass through for 2 other entities. I am only able to add entry for one of them. How do I add the other?

Turbotax only asks questions about one of the LLCs and does not give me an option to add other other one. Is there a way I can add the other LLC as well?
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1 Reply
RobertB4444
Employee Tax Expert

I have received a K1 from a pass through entity. This entity is a pass through for 2 other entities. I am only able to add entry for one of them. How do I add the other?

If the pass through entities are represented on the K-1 then you only should be entering the information from this K-1.  If you need to enter the pass through entity information then you would need to create K-1s for each of them in order to have that income/expense amount entered separately.

 

When entering K-1s you can enter as many as you need.  If you do the math to separate the income for all three of these entities then you can enter each as though you had received a separate K-1 even though the total of all three will just add up to the amounts on the one K-1 that you received.

 

@prakshep 

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