How do I address these two errors on Turbotax? Thank you [PII deleted] For my Sunoco LP Schedule K-1, Box 1 has an amount that does not agree with the type of activity indicated. Turbotax suggests to include this amount on another K-1 worksheet to match it up with the type of activity. This doesn't make any sense to me.
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If your K-1 has more than one item filled in for boxes 1, 2, and/or 3, then you will actually enter two K-1s, one to report the income reported in box 1 and a second K-1 to handle the income reported in box 2 (and a third for box 3, if applicable). 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.
This helps, many thanks for your quick response!
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