How do I enter more than 1 K-1 in TT?

Forum|Forum|2 years ago
September 27, 2023
1 reply
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user17581364628

Level 5

Do you have amount filled in Boxes Ordinary Income, Rental Income, etc. on your K-1 that is triggering you to enter in your K-1 twice, or you just need to enter in a different K-1 into TurboTax.

If latter of the two, you will simply go back and click Edit under your K-1 module, either select one of the three options, (Partnership, S-Corp, Estate), click "Add" to enter in your new K-1.

Airpilot1Author

Level 2

DeepP replied: "Do you have amount filled in Boxes Ordinary Income, Rental Income, etc. on your K-1 that is triggering you to enter in your K-1 twice, or you just need to enter in a different K-1 into TurboTax."

My Reply: My K-3 lists four Foreign Sources, so I apparently have to do a K-1 for each of them. How do I generate four separate K-1's for one partnership?

user17581364628

Level 5

Looks like there will be 4 different column: Foreign branch (b), Passive (c), General (d), and other (e). If you have numbers in each column line 24 K-3, you will create each individual K-1s to input the information.

Simply enter K-1 foreign branch (b) info first, leaving off the b, c, d, columns. Make sure to adjust off c,d,e numbers your column (g). Same with next screen, where it will ask you about line 54 information to input.

Once completed with (b), you will create a K-1s for c-e, by clicking on Add button in summary screen, and only enter in the K-3 info for the other 3-K-1s, at the end you will have 4 different K-1 for same partnership.