topic K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it. in Business & farm

K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agree with type of activity indicated." Amounts are given for box1 and 2 on it.

kenmurphy67 — Sat, 06 Mar 2021 16:06:09 GMT

Box 1 is ordinary business income. Box 2 is rental real estate income. Both amounts are present on the K-1 for, but TurboTax says they are not allowed... I should include another K-1 for the separate activity. What would be included on that 2nd form?

Re: K-1 from Sunoco imported into TurboTax gives an error: "box 2 has an amount but does not agre...

AnnetteB6 — Sat, 06 Mar 2021 16:31:23 GMT

Yes, you need to enter 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.