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Solved

K-1 with entries for both ordinary business income and rental real estate income, as well as entries under line 16, foreign transactions for both codes D and E.

Forum|Forum|7 years ago
June 3, 2019
1 reply
16 views

When I use a separate K-1 for the rental estate income, how do I fill it out? Also, when I use separate K-1 for the line 16 codes D and E, what is included on each K-1? On the Review, TurboTax keeps telling me that I need to fill in an amount on the code E, or code D. Very frustrating.

TurboTax Premier Online

Best answer by rogge1722

On the first K-1, use the passive category only. This means for box 16, entries in (D and I ) passive category are included but exclude the general category items. (E and J). Other than that all remaining entries remain as is.

On the 2nd K-1, use the general category only. This means filling out Part 1. On part 2, you can ignore J,K, and L as these are informational only. In part 3, everything is blank except for general category items ( E and J) in box 16.

On the 3rd K-1, fill out Part 1 and Part 2 the same as the 2nd. For part 3, enter the data in box 2 and the rest is blank.

rogge1722Answer

Level 10

On the first K-1, use the passive category only. This means for box 16, entries in (D and I ) passive category are included but exclude the general category items. (E and J). Other than that all remaining entries remain as is.

On the 2nd K-1, use the general category only. This means filling out Part 1. On part 2, you can ignore J,K, and L as these are informational only. In part 3, everything is blank except for general category items ( E and J) in box 16.

On the 3rd K-1, fill out Part 1 and Part 2 the same as the 2nd. For part 3, enter the data in box 2 and the rest is blank.