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devboss53
New Member

How to split a single sch k-1, (1041) into separate k-1's for multi types of Income. I have both ordinary business income (box 6) & Net rental real estate income (box 7)

 
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4 Replies
Carl
Level 15

How to split a single sch k-1, (1041) into separate k-1's for multi types of Income. I have both ordinary business income (box 6) & Net rental real estate income (box 7)

Deleted. This response was just flat out wrong any way you look at it. (What was I thinking!?!)
kcford
New Member

How to split a single sch k-1, (1041) into separate k-1's for multi types of Income. I have both ordinary business income (box 6) & Net rental real estate income (box 7)

Carl, so input all of the information twice with box 6 omitted one time and then box 7 omitted the second time?  I want to make sure the other amounts are not being doubled.
devboss53
New Member

How to split a single sch k-1, (1041) into separate k-1's for multi types of Income. I have both ordinary business income (box 6) & Net rental real estate income (box 7)

Thanks so much for your response. Should I do a third K1 with all the other info on the original K-1 or do 2 K-1's with all info and item #6 on one K-1 and just item #7 on a 2nd K-1? I've seen both answers in related questions here.
Carl
Level 15

How to split a single sch k-1, (1041) into separate k-1's for multi types of Income. I have both ordinary business income (box 6) & Net rental real estate income (box 7)

My response above deleted. This thread is so messed up (by me) with wrong information (again, by me) that I've closed it. Please start a new post @kcford as what applies to the original poster of this thread, may have nothing to do with your situation, combined with the fact this thread is 4 months old and tax laws *have* changed in that time.
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