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Get your taxes done using TurboTax
You have to create 2 K-1s within TurboTax for this partnership. You report box 1 on one of them, and report box 2 on the second.
All the other boxes on the K-1 need to be split between the two (not entered twice). Options are to actually split each entry based on how it contributed to box 1 vs box 2. Or, if one of the two entries dwarfs the other, you could enter all the other values on that K-1 and leave everything off the other.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 11, 2022
10:36 AM