MY K-1 REPORTS AN INCOME IN PART III-1 AND A LOSS IN PART III-2. TURBO TAX WILL ONLY LET ME ENTER ONE OF THOSE. WHY?

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1 Best answer

Level 3

Jun 3, 2019 4:52:02 PM

You'll need to enter it twice. Here's the procedure, from Rick19744:

When entering the K-1 information, you do need to set up two separate K-1's for the input.

However, you don't enter the information twice.

On one K-1 input, you would enter all the information on the K-1 EXCEPT box 2.

On the second K-1 input, you would enter ONLY the box 2 information.

Level 3

Jun 3, 2019 4:52:02 PM

You'll need to enter it twice. Here's the procedure, from Rick19744:

When entering the K-1 information, you do need to set up two separate K-1's for the input.

However, you don't enter the information twice.

On one K-1 input, you would enter all the information on the K-1 EXCEPT box 2.

On the second K-1 input, you would enter ONLY the box 2 information.