HI. I transferred a few LLC interests to a revocable trust mid-year and I received 2 K-1s, one in my individual name and the other in the name of the trust. I presume income and losses was apportioned between the 2. I think I should add up the numbers in each line item and input them that way into TT. Is that correct?
If so, will it get flagged by the IRS? I'm concerned the IRS will be notified that I received 2 K-1s from the issuer but only 1 is reported on TT.
Any thoughts or suggestion are appreciated.
