Hello, I’m working on my tax return in TurboTax and need help splitting a K-1 that has both Box 1 (Ordinary business income) and Box 2 (Net rental real estate income) populated. TurboTax suggests splitting the K-1, but I’m unsure of the specific steps to properly allocate the amounts across multiple sections of my tax return, since both amounts are listed in the same place.
There are some supporting statements attached as well.
Is there a guide that I could be using for this or what would you suggest where to get started?
