turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

K-1 with line one and two income

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
AnnetteB6
Employee Tax Expert

K-1 with line one and two income

Enter the numbers for lines 19 and 20 on one K-1 and leave it off the other one.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

2 Replies
AnnetteB6
Employee Tax Expert

K-1 with line one and two income

Enter the numbers for lines 19 and 20 on one K-1 and leave it off the other one.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

K-1 with line one and two income

Thank you.  That confirms what seemed to be the logical answer.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question