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whitemc
New Member

K-1 Partnerships: I have numbers in boxes 1, 2 and 3 in part III on my 1065 form, so Turbo Tax says I need to file 3 K-1s. Do I need to completely fill out all 3 K-1s?

 
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ToddL
New Member

K-1 Partnerships: I have numbers in boxes 1, 2 and 3 in part III on my 1065 form, so Turbo Tax says I need to file 3 K-1s. Do I need to completely fill out all 3 K-1s?

Enter one complete K-1 with all entries except for Box 2 and Box 3.

Then, enter two more K-1s with the "header information" (Part I. Partnership and Partner Information) and the information in sections K and L (Part II)

(Section J (Partner's Share of Profit, Loss and Capital) does not need to be re-entered).

When you come to Part III, Partner's Share of Current Year Income, Deductions, Credits, Other Income,  enter income from Box 2 on one of them, and Box 3 on the other one.

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