Schedule K-1

No, you only include the information for boxes 14,17 and 20 on one of the K-1's.  

The second K-1 is created so the information from Box 2 flows to the correct place in your return.

@sml_19

One K-1 will include boxes 1 and 14. This is for business income/loss

The other K-1 will be for boxes 2 and 17. This is for rental income/loss

As for which K-1 will include box 20, that depends on what the "other information" is for. Business income or rental income?

Thanks for your answer. For box 20, it is noted to see Statement A - Section 199A: W2 wages.

The amount is under - Unadjusted basis of assets.

Thanks!