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If both LLCs are disregarded entities (which presumes you did not make an election for each LLC to be treated as an S corporation for federal income tax purposes and there are no other members), you should not have received a K-1.
Income and expenses from disregarded entities are typically reported on Schedule C (Form 1040).
If this is a partnership that issued a K-1 form an you have entries in both box 1 & 2 then here is the data entry trick ...
Enter the K-1 and enter everything on it EXCEPT the box 2 amount ... then enter in another K-1 and this time ONLY enter the box 2 amount. The program will automatically merge them.
If both LLCs are disregarded entities (which presumes you did not make an election for each LLC to be treated as an S corporation for federal income tax purposes and there are no other members), you should not have received a K-1.
Income and expenses from disregarded entities are typically reported on Schedule C (Form 1040).
If this is a partnership that issued a K-1 form an you have entries in both box 1 & 2 then here is the data entry trick ...
Enter the K-1 and enter everything on it EXCEPT the box 2 amount ... then enter in another K-1 and this time ONLY enter the box 2 amount. The program will automatically merge them.
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