K-1 Entries

Forum|Forum|5 years ago
April 21, 2021
2 replies
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I have stock in the S-Corp that I work for. I have a question about the K-1.

Since we have both K-1 business income (loss)- LINE 1 and real estate

income- LINE 2, instructions say to complete two K-1 forms, one for each:

like two separate operations.

Since there is only one set of entries for interest income- LINE 4,

dividends- LINE 5A, gain(loss)- LINE 9 other deductions- LINE 12 and LINES

16, 17, do I enter these on each of the K-1's?

Thank you,

Steve C

Best answer by Anonymous_

@scanham wrote:
Since there is only one set of entries for interest income- LINE 4,

dividends- LINE 5A, gain(loss)- LINE 9 other deductions- LINE 12 and LINES

16, 17, do I enter these on each of the K-1's?

No, just enter those items on one of the K-1s, not both.

Anonymous_Answer

Level 15

@scanham wrote:
Since there is only one set of entries for interest income- LINE 4,

dividends- LINE 5A, gain(loss)- LINE 9 other deductions- LINE 12 and LINES

16, 17, do I enter these on each of the K-1's?

No, just enter those items on one of the K-1s, not both.