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Level 1
posted Apr 11, 2024 3:58:41 PM

Schedule K-1 1041 Box 14 code I with 2 activities how to enter

I have  a schedule K-1 4041 Box 14 code I with 2 rental properties or "activities" (no EIN listed) but Turbotax only has a box to list one business. The same schedule box 14 has code E info.  Do I split the info from the 1041 and make 2 K-1 entries with the same trust name, 1) with code E info and one business info and 2) don't list code E info and list the other business.  I don't have the EINs of the properties so do i just check "EIN applied for"? 

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1 Replies
Expert Alumni
Apr 17, 2024 1:39:45 PM

Yes, enter two Schedules K-1, one for each activity with slightly different names. Use the trust EIN from the K-1. If you received no allocation information for the amount in Box 14, you may enter it on one K-1 or split between the two based on income.