Business & farm
You will need to enter each income (loss) separately as if you received 2 separate K-1's. Generally, you will enter the business portion (Box 1) first, entering the Partnership name, ID, etc., and the income or loss amounts as if those are the only items on the K-1. Once that data is entered, you will need to add a new K-1 for the rental loss. As you progress through the questions, the screen asking if multiple boxes are checked will appear and should look like below:
Once you have entered the business portion of the K-1 data, you will return to the summary page where you will add another K-1 as shown below:
Enter the real estate data to the additional K-1 as if you received 2 K-1's instead of the single, composite K-1. After all data is entered, I suggest clicking on "Edit" for each to verify that you accurately entered the data that shows on the K-1 in each of the now separate K-1's.
