JamesG1
Expert Alumni

Get your taxes done using TurboTax

Within the partnership K-1 entry, at the screen Choose type of activity, select This K-1 reports amounts in more than one of boxes 1, 2 or 3.

 

Below it states:

 

Since your K-1 reports amounts in more than one of boxes 1, 2, or 3, the partnership/LLC is involved in more than one type of activity. You should treat each activity separately in TurboTax.

Enter the business activity amount, box 1, on one K-1
Enter real estate rental activity amount, box 2, on another K-1
Enter other rental activity amount, box 3, on a third K-1.

This will allow TurboTax to properly track your loss carryovers. 

 

Depending upon the information that you have been given, individual 'K-1' entries may be entered into the TurboTax software, each one reporting income and Section 199A information.

 

 

 

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