michael_firkins
Returning Member

Form 1065 K-1 income

I am inputting the Part III income from boxes 1 and 2. Turbotax requires I complete a separate K-1 for each of these entries. Additionally it asks for all the other information from the K-1 for each of those forms. Do I add all the information from all the other boxes (3-20) on both of the K-1 forms that I'm completing for 1 (ordinary business income) and 2 (net rental real estate income)? I have info in box 3 (interest income) and also Section 199A (box 20, code Z) that describes the income and UBIA. It doesn't intuitively seem correct to record all this information twice. Thanks!