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Shall I I enter part I and Part II for both If my K-1 has both rental and ordinary business income? Shall I enter all of the data again for 2nd income from item 1-20?

When I entered data again for 2nd income Part III from item 3-20, my tax due increased a lot and I believe it is not right.
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2 Replies

Shall I I enter part I and Part II for both If my K-1 has both rental and ordinary business income? Shall I enter all of the data again for 2nd income from item 1-20?

Ok ... it is just this simple if your K-1 has income in both box 1 & box 2.

 

Enter the K-1 as written twice ... on the first K-1 form  enter everything EXCEPT box 2   and again on a second one entering ONLY box 2 ... the program will "marry" them back automatically.  

Shall I I enter part I and Part II for both If my K-1 has both rental and ordinary business income? Shall I enter all of the data again for 2nd income from item 1-20?

You need to ask the issuer of the K-1 about the Boxes 4-20.  You need to ask them how much of each box applies to the ordinary income in Box 1, and how much in each box applies to the rentals in Box 2.

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