For the past 3 years, as suggested by TurboTax, I've split my K-1 forms into two parts and entered them separately. One K-1 for business activity (Box 1) and one for rental activity (Box 2).
Per the software:
"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."
This year the partnership has been disposed and I have received a "merger/redemption" distribution and my final K-1.
How do I properly record the disposition in TurboTax with a split K-1, with regards to the sale price, partnership basis, etc.?
Certainly I don't want to enter the disposition figures twice (once on each half of the split K-1), right?
