I have read answers from multiple experts on how in TT need to use 2 K-1s for a K-1 with values in Part III Box 1 (BI) and Box 2 (RE). The expert answers differ on which of the other boxes in Part III (4 to 20) should be put into the two K-1s (two examples below). Would appreciate a tie-breaking (definitive answer?) for which K-1 to put values in box 4-20).
One TT Expert (AliciaP1) says to create one K-1 for Box 1 (BI) and include ALL boxes 4-20 with values, except for Box 17 or Box 20 containing Section 199A info. In the second K-1, she says enter Box 2 value (RE income/loss) and ONLY enter Box 17 or Box 20 Section 199A info. (I am assuming she means by 199A info Box 20, Letter Z?)
https://ttlc.intuit.com/community/taxes/discussion/how-to-input-schedule-k-1-if-boxes-1-and-2-have-v...
Another TT Champ (Tagteam) says that on the K-1 with Box 2 info (RE), should also enter Boxes 9c and 10 values
https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/my-k1-has-amounts-in-...
There are other TT responses with slightly different answers.
So for a K-1 from an LLC partner that has box 1 and box 2 values, can someone list which boxes 4-20, should be in the K-1 with the Box 1 value and which boxes should be included in the K-1 with the box 2 (RE) value
