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friscoaggie1
New Member

My wife has a K-1 and box 1 and box 2 are both used. I know I need to have 2 separate inputs for them but which one gets all of the other values put into it?

if you put all of the other box values in both of your K-1s .....for box 1 and box 2 then your taxes are doubled so I know the values only go one one of the forms but which one...?
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sjwilling
New Member

My wife has a K-1 and box 1 and box 2 are both used. I know I need to have 2 separate inputs for them but which one gets all of the other values put into it?

I've been getting these for years from my wife's farm. It's an annoying practice, and as you know TurboTax won't allow this. If you try to override by entering both boxes on one form, it just won't file the return. Intuit should alter the code so it will. Obviously the IRS accepts them, or accountants wouldn't be doing this.

If you can determine which activity the boxes are related to, business income or rental income, then enter them in the appropriate K1. If you don't know, you could ask the accountant. If neither of those work for you, then my solution has just been to pick one form for all the boxes and leave them blank on the other.

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1 Reply
sjwilling
New Member

My wife has a K-1 and box 1 and box 2 are both used. I know I need to have 2 separate inputs for them but which one gets all of the other values put into it?

I've been getting these for years from my wife's farm. It's an annoying practice, and as you know TurboTax won't allow this. If you try to override by entering both boxes on one form, it just won't file the return. Intuit should alter the code so it will. Obviously the IRS accepts them, or accountants wouldn't be doing this.

If you can determine which activity the boxes are related to, business income or rental income, then enter them in the appropriate K1. If you don't know, you could ask the accountant. If neither of those work for you, then my solution has just been to pick one form for all the boxes and leave them blank on the other.
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