Business & farm

one one k1, report box 2 income/loss AND all rental income, w2 wages and Unadjusted Basis of Assets. These all relate to the rental activity. Include the stuff from the left of the k1 such as partners share, capital acct, loans. Do not duplicate these on the other k1.

On the other k1 take box 1 for ordinary income and all the other boxes not collected for rental activity.

Ignore any entries for depreciation shown on k1 notes.

If box 1 or 2 has a zero, then consider that a non entry and then do not have to create the duplicate k1.