Received K1 with Line 1 and Line 2

[AlphaGA]

I have received K1 which has number in Line 1 (Ordinary Business Income) and Line 2 (Net Rental Income) and Turbotax says to enter K1 twice.    Do I enter the numbers that are in Line 18, 19 and 20 (especially Code Z 199A) information in both copies of K1 or just the one with Net Rental Income related K1 entry?

[dmertz]

When entering two Schedules K-1, each particular item in boxes 1 through 20 is to be entered on only one of the two Schedules K-1.  It probably makes sense to put only the box 1 entry on one and everything but the box 1 entry on the other.  The reason that it must be split is because the questions that TurboTax asks about the box 1 entry are different than the questions that TurboTax asks about the box 2 entry.

[Critter-3]

Correct ... enter this as 2 separate  K-1 forms ... on the first one enter everything EXCEPT box 2 and on the second enter ONLY box 2.  The program will marry the 2 together automatically since they have the same EIN. 

[AlphaGA]

Thank you!

[genie4]

Later in the schedule K-1 entry, Turbotax asks about "Aggregation of Business Operations".  Since this is the business split up by Turbotax for programming reasons, should the answer be "yes" and should form 8995-A schedule B filled out?  I get more of a return with the aggregation of business operations "yes" than without.  While I understand that the "Aggregation" was initially created for like small businesses, in this case it is the identical business...

Thanks for your answer!

[dmertz]

@genie4 , this aggregation has to do with the QBI deduction.  Aggregating them does seem to make sense.  However, if nothing on the Schedule K-1 is related to the QBI deduction, it probably doesn't matter.