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Business & farm
You have entered it correctly. When the second K-1 is required due to multiple items being reported in boxes 1, 2, or 3, the subsequent K-1 should only contain the additional box 2 or box 3 information if the first one reported box 1.
Also, the capital account information should only be reported on one of the K-1s, not both.
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‎February 22, 2025
11:44 AM