I have a K-1 that show income in PART III, Box 1 and Box 2, as well as Box 16 D and E. How do I handle this? 4 separate K-1 worksheets?

[PatriciaV · Accepted solution]

Yes, you will need to add another Schedule K-1 for Box 2 income. And if you are unable to include all the foreign transactions from Box 16 on either one of the first two copies, you may create as many copies as you need to enter the information correctly.

On each copy, enter Parts I and II completely. Enter all income and expenses on the first copy, but don't include any boxes that you plan to enter on other K-1 copies.