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I am involved as a limited partner in a K-1 (REIT) with both ordinary business income & rental real estate income. Do I really enter two forms with duplicate info?

I would be duplicating many of the dollar figures on both K-1 entries, which doesn't seem right?
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New Member

I am involved as a limited partner in a K-1 (REIT) with both ordinary business income & rental real estate income. Do I really enter two forms with duplicate info?

Yes, you enter the income and expense only once, however you must enter the ordinary income and rental income on separate K-1s and you enter the demographic information in boxes A through D on both K-1's. Generally it does not matter which K-1 you use to enter the other income and expense information.

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Highlighted
New Member

I am involved as a limited partner in a K-1 (REIT) with both ordinary business income & rental real estate income. Do I really enter two forms with duplicate info?

Yes, you enter the income and expense only once, however you must enter the ordinary income and rental income on separate K-1s and you enter the demographic information in boxes A through D on both K-1's. Generally it does not matter which K-1 you use to enter the other income and expense information.

View solution in original post