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Splitting a single K-1 into multiple TurboTax K-1 entries, how to answer combined business question
Hi
I need to split my K-1 into 8 Turbotax K-1 entries. Note, I was told I need to split my single received K-1 into 8 turbax entered K-1s because Box 20 code Z data is split into a main entity and 7 pass through entities, and also I have Box 1 and Box 2 information.
A question during the data entry comes up (each time for each of the K-1s entered) (see below screenshot):
For the "Description" do I need to enter ALL 8 Combined Businesses every time (for all 8 Turbotax K-1s) or only enter the single sub-business that I am entering?
‎July 12, 2020
5:34 PM