supplemental K-1 for ETP has multiple columns for each box. each column corresponds to a separate "passive activity". How do I enter the value for each box? do i add the values across the columns for each box? e.g. there are 4 passive activities, is the value for the box the sum of all the 4 activities?
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I assume you meant ET?
Within TT, you have to enter each separate passive entity as its own K-1. So ET gets split into 4 different K-1s (and possibly more, if any of them have box 2 or 3 entries). This is because each of those columns represent a different PTP / legal entity, and the PTP rules don't allow losses from one to offset income from another.
I assume you meant ET?
Within TT, you have to enter each separate passive entity as its own K-1. So ET gets split into 4 different K-1s (and possibly more, if any of them have box 2 or 3 entries). This is because each of those columns represent a different PTP / legal entity, and the PTP rules don't allow losses from one to offset income from another.
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