not quite.
on the k1 in part III there are 21 lines that can have amounts
some of these lines in total can be entered on either k-1 (but only 1) because they are not passive or have no effect on tax reporting such as line 19 distributions (you could even skip entering line 19 because Turbotax doesn't use it for anything). Turbotax requires that the amounts on line 1, 2 and 3 be entered on separate k-1s so up to three are needed.
I can't tell you which k-1 certain lines would go on. The partnership should have provided that info - usually it would be in the form of a schedule with a column for each activity and the amounts on each line. for example, an amount on line 12 - section 179 deduction could be for either activity or maybe the total for both. proper reporting would require reporting the amount on the k-1(s) for the activity that generated the amount.
