K1 and amended return

Forum|Forum|4 years ago
August 23, 2021
3 replies
29 views

I received an unexpected K1 (my first one) after I filed my 2020 taxes so I am filing an amended return. I see that I am supposed to do 2 separate K1's in Turbo Tax as I have entries in box 1 (ordinary business income loss) AND box 2 (small net rental real estate income). I do have entries in other boxes (5, 9a, 10, 13, 17, 18, 20) so do I need to duplicate all of those other entries for each K1 (the one box 1 loss and the one for box 2 income) or do I only need to enter the information from those other boxes into one of the K1s (the one that reflects box 1 loss or box 2 income)? Thank you for your help.

Mike9241

Level 15

do not repeat reporting any of these items on both k-1's

you can report as follows

line 5,9a,13,18 - either k-1

line 10 same k-1 as line 9a

line 13 need to know which lines a,b,c etc- any that are itemized deductions can go on either k-1 but others may have to go on a specific k-1 - you should have gotten details

line 17 this too may have to go on a specific k-1 - again details should have been provided

line 20 is just like line 13. some may need to go on a specific k-1 others may not even have to be entered.

Mike9241