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turkisheho
New Member

If I have to fill out a K-1 (Form 1065) twice because there was a value in both Box 1 as well as Box 2, do I fill out all the other boxes (3 - 20) in the second K-1?

 
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HelenaC
New Member

If I have to fill out a K-1 (Form 1065) twice because there was a value in both Box 1 as well as Box 2, do I fill out all the other boxes (3 - 20) in the second K-1?

No, do not enter boxes 3-20 twice. Doing so would be doubling your income, losses, expenses, etc.

  • Create a K-1 with Box 1 and all  entry boxes that pertain to Box 1, then create a second K-1 with the information from box 2.
  • Do not enter information from boxes (3-20) with the second K-1 unless it pertains directly to  Box 2.
  • This will ensure that no double entries are made.

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