I've a K-1 with amounts in box 1 & 2. When I create a second entry for this K-1 (for box 2 info), should I enter again the K-1 Part II data (Profit/loss/Cap/ liabilities)

[Anonymous_]

Yes, you can enter all of that information for completeness sake, but the K-1 that will be generated is actually for your records; the information and figures are dispersed throughout your return.

[Williwaw]

Thanks

[Anonymous]

you may not know this, but most of the info in part II is not required by either TT or the IRS.  here's  what is required

taxpayer / spouse /joint

boxes in G and H 

and the at risk question under K

there may be items in box 20 that need to be enter for the line 2 k-1 and not on the line 1 k-1

such an item would be section 199A  - net real estate income (loss) (the qualified business income section)