K-1 partnership

3 replies
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TurboTax for tax year2022: Has the K-1 partnership income entries been simplified ?

-or do we still have to fill out more than one TT form if the K-1 has entries in more than one of the boxes 1, 2 or 3.

Anonymous_Answer

Level 15

@holoberg wrote:

....do we still have to fill out more than one TT form if the K-1 has entries in more than one of the boxes 1, 2 or 3.

Yes, it is the same procedure as in previous years.

Note: If your K-1 shows more than one type of activity, treat each one separately. Enter all business items on one K-1, all real estate rental items on another K-1, and all other rental items on a third K-1.

Anonymous_Answer

Level 15

@holoberg wrote:

....do we still have to fill out more than one TT form if the K-1 has entries in more than one of the boxes 1, 2 or 3.

Yes, it is the same procedure as in previous years.

holobergAuthor

Level 2

Thanks!

-and for the benefit of others: Do not enter K-1 box info twice.

Critter-3

Level 15

Simpliest way to do this is to make 2 K-1 entries for the same K-1 ... on the first enter everything EXCEPT box 2 and on the second JUST box 2 ... the program will marry them back up for you.