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Separating business and rental on 1065 K-1?
I have a 1065 K-1 with amounts in box 1 and 2. Turbotax requires me to separate which amounts on the K-1 are for business income and rental real estate and then create *two* K-1 entries in Turbotax from this one K-1. I wish Turbotax would ask more questions about the entries and figure this out in the program rather than punting it down to me. But anyway...
I have entries in boxes 1,2,5,13,17,18,19,20. Codes are:
Box 13- A, K, W* (property taxes)
Box 17- A
Box 18- C
Box 19- A
Box 20- A, AB, AD, Z.
So what amounts go on the business K-1 and the rental K-1?
Thanks,
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‎January 6, 2020
10:15 AM