Schedule K1 has entries on boxes 1 and 2. TurboTax requires to enter two separate K1s. If I have data on box 10, am I being taxed twice for the same concept?

jagarcia85 · ‎July 14, 2020

When I create the separate K1s, TT asks me to also enter the info from box 10. Hence, the box 10 data ends up being entered twice and I have the feeling I am being taxed twice for the same concept.

rogge1722 · ‎July 15, 2020

On the original K-1, delete the entry in box 2 and leave all other entries intact.

On the 2nd K-1, fill out Part 1, ignore Part 2, and in Part 3 insert the amount in box 2 and leave the remainder of Part 3 blank.

Schedule K1 has entries on boxes 1 and 2. TurboTax requires to enter two separate K1s. If I have data on box 10, am I being taxed twice for the same concept?

Business & farm