Investors & landlords

sadly turbotax is not able to handle the first 3 lines on one k-1.   you're supposed to enter line 1 and related items on one k-1 and line 2 and related items on a second k-1. do not duplicate numbers.  if you had interest income of $50 (line 5) enter it on only one k-1.

any QBI and certain other items must be entered only on the k-1 they pertain to. 

amt would most likely realte to line 2 only 

 

 

if you want to follow your CPAs approach - 1-  k-1 that's up to you. It could be that the partnership return was prepared incorrectly and line 1 is properly part of line 2. (there's no way for this forum to know for sure)  but if those expenses arose or were directly connected to the rental activity, line 2 seems proper.

 

 

the other side of the issue is the IRS. will it raise an issue about combining the amounts - unknown. 

 

 

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