Yes, you need to enter a second K-1 to handle the income reported in box 2. The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.
As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1. It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
