I have numbers in both box 1 & 2 of my k-1 so i will file two k-1's . do I then use ALL of the numbers in all of the other boxes of the k-1 for both filings or just one

[LindaS1]

That is true.  Thank you for all the information so I don't have to "re-create the wheel" so to speak.  I'm a stickler for records, so I do have all our old K-1s.  I'm going to create a spreadsheet today with all the Part II history we've received over the years - thank you for the advice.

[Beach B]

Thanks for the helpful information.  On which K-1 would you place the information in Box 5 (Interest Income)?

[Critter]

Actually what works best is on the first K-1 entry you enter everything EXCEPT box 2  and on the second K-1 ONLY box 2 ... since both forms have the same EIN they are married by the program automatically. 

[Beach B]

Many thanks.

Have a good one.

[spylyshenko]

what about boxes 5, 6, and 7?  Do they go with box 1 or 2, or does it not matter

[MaryK4]

It does not matter for Boxes 5,6,or 7- TurboTax will put them in the correct place on the 1040.

@spylyshenko

[rooksmith2]

Wow This is a MAJOR deficiency in Turbo Tax.  The forms that are sent by the Funds themselves are straightforward. Why cant they just make a single form that handles both types 1 and 2. I think there must be a better answer such as they seperate passive and non-passive income. In which case the whole process should be automated and Turbo Tax should figure it out for you.

[genie4]

If you have multiple K-1 entries (for lines 1 and 2 in my case) with same Tax ID #:

Later in the schedule K-1 entry, Turbotax asks about "Aggregation of Business Operations".  Since this is the business split up by Turbotax for programming reasons, should the answer be "yes" and should form 8995-A schedule B filled out?  I get more of a return with the aggregation of business operations "yes" than without.  While I understand that the "Aggregation" was initially created for like small businesses LLC combining, in this case it is the identical business...

Thanks for your answer!

[RobertB4444]

Yes, the answer is yes and yes a form 8995 and associated schedules should be filled out.  If you qualify for the deduction you should definitely take it.

@genie4