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jgrech062
Returning Member

K1 vs personal

I had a K1 generated for my partnership LLC -- the question is if I use Home and Business do I put the information in Home and Business K1 section only?

And do I disregard the self employed section under business and expenses?

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1 Reply

K1 vs personal


@jgrech062 wrote:

I had a K1 generated for my partnership LLC -- the question is if I use Home and Business do I put the information in Home and Business K1 section only?

And do I disregard the self employed section under business and expenses?


Yes, use the K-1 section to enter your K-1 and disregard the self-employed section unless you have a sole proprietorship (or another LLC treated as a disregarded entity).

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