Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Apr 6, 2020 3:51:45 AM

If I'm splitting up a partnership K-1 because it has multiple activities (income in box 1 and 2) and also dividends in box 6a, do I include this in one or both K-1s?

For other information there is a statement for how to distribute it, but not for boxes 4-7.

0 1 1054
1 Best answer
Expert Alumni
Apr 6, 2020 5:14:27 AM

You would only enter the dividends on one of the split up K-1s.  It does not matter which one, but if you enter it on both, the income will be counted twice.  

 

 

@astrange

1 Replies
Expert Alumni
Apr 6, 2020 5:14:27 AM

You would only enter the dividends on one of the split up K-1s.  It does not matter which one, but if you enter it on both, the income will be counted twice.  

 

 

@astrange