K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

posted

No. When entering two separate K-1 input screens for the same K-1, you should enter all lines EXCEPT the rental income / loss line on one K-1 input screen and then ONLY the rental income / loss figure on the other K-1 input screen.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

I own a construction business; however, I mostly do noxious weed control & tree removal for cattle ranches in recent years. Is 238900 the best business code/activity?

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K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

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K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

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K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

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