Enter Two or One K-1 When additional Capital is Added to Same LLC?

[WSO]

I received two K-1s from the sponsor of a private equity real estate LLC.  The 2nd K-1 documents a capital call.  Blocks 1-20 are empty in this second K-1.  The only thing that is different in this K-1 (compared to the first) is in section L where the additional capital I contributed and a small capital passive loss are documented

[Mike9241 · Accepted solution]

don't waste your time. Turbotax does not use that section for any computations. so, 1 k-1 and you can omit all section L entries. Turbotax does not track tax or at-risk basis. That's your job or sometimes you'll get a supplement from the tax return prepare reporting these items.