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A

Anonymous

Question

MLP data enter into k1

Forum|Forum|6 years ago
October 14, 2019
1 reply
4 views

I am trying to enter MLP partnership data into K1 in Turbo tax.

Once I start k1 it has Box 1 (business) or Box 2 (rental real estate) checked. I can only check one. But k1 has both numbers in box 1 and box 2.

I checked box 1 entered info and went all the way. Then got back to enter box 2 but then box 1 info was gone.

How do I handle it?

Level 15

@529325 wrote:

How do I handle it?

In TurboTax, you have to treat a K-1 with figures in Boxes 1 and 2 as if you received two K-1s. You already entered the figures with the amount in Box 1 and now you simply need to enter the figure from Box 2 (as if it is in a separate K-1).

The simplest method to handle this is to enter all of the figures from the K-1, including the figure in Box 1, and then enter the second K-1 by only entering the figure in Box 2 (and nothing else since you already entered the figures on various lines when you entered Box 1).

A

Anonymous

In some K1 box 2 is empty and in some they either list some amount or list 0. If amount is 0 then there is no need to enter 2nd time?

Level 15

If there is a zero, you do not have to enter it a second time.