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Level 2
March 18, 2020
Question

K1

  • March 18, 2020
  • 7 replies
  • 31 views

I have one K-1 document.  It has figures in part3, box 1 & 2.  TurboTax says that I have to create two K-1's- one for the figure in Part 3 box one and one for the figure in box two.  I'm assuming that I replicate the information in Parts 1 & 2 on both of these K-1's.  On the second K-1 that I create do I also replicate the other information in Part 3, ie. Box 5, 6a, 6b, 7, 8, 9a, 10, 13, 17, 18, 19 & 20?  Thank you.

    7 replies

    Level 15
    March 18, 2020

    Yes - Replicate the information in Parts 1 and 2 on both K-1s.

    • On the first K-1, enter everything except the figure in box 2.
    • On the second K-1, enter only the figure in box 2.
    mammothAuthor
    Level 2
    March 20, 2020

    Thank you.  You are a life saver.