I have the exact same concern. Even though I understand I need to create a new K-1, what should I fill for Box 1-16, BEFORE I can get to the step to report the second entity as a result of setting V in Box 17? For example, if the Box 1 of my main K-1 is $100, shall I put $100 in Box 1 for BOTH K-1s created? Thanks!
