@DaveF1006 Ok, so here's what I did. I also talked to an expert through TT's support, and the expert specified that I should split the Box 2 income/loss among the various K-1 entries to align with the numbers from the passthrough for each entry, to make sure I can claim the full extent of available deductions. I'm not sure if this was right, because despite overall losses, my taxes owed went up (just $4) after all these entries. Using example numbers, I had:
K-1 from the MAIN, only partnership of which I am a member shows -$2,000 in rental losses in Box 2 and -$1,000 in Section 1231 loss in box 10. All the rental losses are attributable to pass-throughs, lets call them Passthrough A through Passthrough E, each with -$400 of rental loss and their own W-2 wage info. $50 of the Section 1231 loss is attributable to a single passthrough, Passthrough E.
I entered a total of six K-1s.
K-1 #1: MAIN partnership info, including all the partner info in Part II from the K-1 I received (profit share, liability share, capital info). I did not enter anything in Box 2 (I think I picked "other," and it led to no prompt, but could go back and enter 0 for Box 2 if that is better). I entered -$950 of Section 1231 loss in Box 10.
K-1 #2: MAIN partnership name, EIN, address. Checked the limited and domestic partner boxes. Skipped the profit, liability, and capital info. Checked only box 20, entered code Z, left amount blank. Selected that the 199A info comes from another business. Entered the name Passthrough A EIN. Entered -$400 of rental loss, entered the W-2 wage info, and the unadjusted basis of assets.
K-1 #3, #4, and #5: Same as #2, with the respective passthrough names (Passthroughs B, C, and D)
K-1 #6: Same as above, except also adding the -$50 Section 1231 loss in the 199A info.
This aligns the passthrough info with the info in box 2 and box 10 for the respective K-1 entries. But, like I said above, despite overall losses and passthrough wages, my taxes owed went up a handful of dollars, making me question if this was the best approach.
Did I do this correctly? Should one of the passthroughs just be listed on K-1 #1, so I have a total of five K-1 entries? Should the Box 2 and Box 10 info be totaled and included just on K-1 #1, rather than split up to align with the passthrough being reported on each respective one?
