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New Member
posted Apr 6, 2024 3:07:42 PM

Multiple transactions for a Form 1065

I have a Schedule K-1 with 20+ sales, but TT only lets me put in one sale.  How to I enter all the rest?

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1 Replies
Expert Alumni
Apr 8, 2024 3:06:55 PM

The K-1 schedule should summarize your income in lines 1 thru 11 for a partnership K-1 schedule. There should only be one entry on each line, so I don't know what you mean when you say you have several sales to enter. However, you can make several K-1 entries for the same schedule K-1, if you need to report different kinds of income. For instance, you can't report ordinary income (box 1) and rent income (box 2) on the same K-1 entry. You would need to enter two schedules, and make sure you don't duplicate any of the entries. The total of the two schedule entries would equal what is reported on the original schedule K-1.