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K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it.

Box 1 is ordinary business income.  Box 2 is rental real estate income.  Both amounts are present on the K-1 for, but TurboTax says they are not allowed... I should include another K-1 for the separate activity.  What would be included on that 2nd form?
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Accepted Solutions
AnnetteB6
Expert Alumni

K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it.

Yes, you need to enter a second K-1 to handle the income reported in box 2.  The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.  

 

As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1.  It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.  

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1 Reply
AnnetteB6
Expert Alumni

K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it.

Yes, you need to enter a second K-1 to handle the income reported in box 2.  The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.  

 

As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1.  It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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