PatriciaV
Expert Alumni

Business & farm

Yes, you should report all activity from Schedule K-1, as this was allocated to you based on the period that you owned the PTP.

If you have entries for both Box 1 and Box 2, you will need to enter two K-1's. Include the information from Part I and Part II on both entries. But report Box 1 and the sale on one entry, and only Box 2 on the other.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post