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gregsz
New Member

K-1 form 1065 ... Part III, lines 1, 2 and D &E on line 16 have have $ entries ... Do I need to make multiple K-1 entries in TurboTax?

 
2 Replies
rogge1722
Level 8

K-1 form 1065 ... Part III, lines 1, 2 and D &E on line 16 have have $ entries ... Do I need to make multiple K-1 entries in TurboTax?

On the first K-1, use the passive category only. This means for box 16,  entry in (D) passive category is included but exclude the general category item. (E).  Other than that all remaining entries remain as is.

On the 2nd K-1, use the general category only.  This means filling out Part  1. On part 2, you can ignore J,K, and L as these are informational only. In part 3,  everything is blank except for general category item ( E ) in box 16.

On the 3rd K-1, fill out Part 1 and Part 2  as described above.  For part 3,  enter the data in  box 2 and the rest is blank.


rogge1722
Level 8

K-1 form 1065 ... Part III, lines 1, 2 and D &E on line 16 have have $ entries ... Do I need to make multiple K-1 entries in TurboTax?

Correction: On the 1st  K-1, box 2 is blank.
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