My sch. K-1 has entries in boxes 1, 2, 5, 19 and 20. TT says input a K-1 for the box 1 entry and a separate K-1 for the box 2 entry. Where do I put the other am'ts. go?

[fxprogljr]

or do I include them with both K-1's?

[JamesG1 · Accepted solution]

Are you entering a partnership K-1?  Please clarify.

To enter partnership income from a K-1, follow these directions.

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Wages & Income.
• Under Your income, scroll down to S-corps, Partnerships and Trusts and click Show more to the right.
• Click Start / Revisit or Edit / Add to the right of Schedule K-1.
• At the screen Did you receive any Schedule K-1?, click Yes.
• Click Start / Update to the right of Partnerships/LLC.
• Enter the K-1 information as requested.

At the screen Choose Type of Activity, click the hyperlink Learn more. The note will say:

If your K-1 shows more than one type of activity, treat each one separately. Enter all business items on one K-1, all real estate rental items on another K-1, and all other rental items on a third K-1.

So there will be one K-1 entry for box 1 income.  There will be a second K-1 entry for box 2 income.  The other boxes refer to either box 1 income, box 2 income or a combination.  You may have attachments or detail which explains how those items break down.  You may find qualified business income deduction information included in box 20 that refers to box 1, box 2 or both boxes of income.

[fxprogljr]

thanks much for the response......yes, I am entering K-1 info in my TurboTax.  I will enter a K-1 for amount in Box 1 and another K-1 for the amount in box 2.  Now I just have to figure out which K-1 the other entries go with....thanks