I understand that I need to file two separate K-1s for business and rental income. However the preparer of the K-1 includes amounts in line 19 and 20. He or she did not allocate line 19 and 20 amounts based on business or rental income except for the code Z information. Do I enter the same amount on both K-1s for these figures or enter the amounts on one K-1 and leave it off the other?
You'll need to sign in or create an account to connect with an expert.
Enter the numbers for lines 19 and 20 on one K-1 and leave it off the other one.
Enter the numbers for lines 19 and 20 on one K-1 and leave it off the other one.
Thank you. That confirms what seemed to be the logical answer.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
gwierzbowsk1
New Member
1e3dc3575106
New Member
mnhng1
New Member
renaalioto
New Member
jennifer_gaul
New Member