I have Box 1 and Box 2 populated on my K-1 and since TT does not let me put all in one form I wonder if I can simply sum it together and put it all in Box 1 ?

[AnnetteB6 · Accepted solution]

No, if you did that, then the information will not be reported properly on your tax return.

You will actually enter two K-1s, one to report the income reported in box 1 and a second K-1 to handle the income reported in box 2.  The second K-1 will have the same basic information as the first one (name, Federal ID number, etc.), but it will report the income for box 2.  

As for the other items reported on the K-1, include everything but the income in box 2 on the first K-1.  It should not matter which K-1 reports the other items, as long as all of the information is only entered one time.  

[dbekkerman]

Thank you 🙂