If you have income to report on the K-1 form lines 1,2 & 3 then you will issue one K-1 per partner ... you do NOT issue 3 separate K-1 forms per person. On the partner's personal tax return is where the K-1 gets entered as 2 separate forms ... on form 1 enter everything EXCEPT line 2 and on form 2 enter ONLY line 2 and the program will marry the 2 forms together.
