Question

On Schedule K-1, boxes 1 and 2 have data entered, so I need to have two separate K-1s? Do you enter boxes 4 - 20 on each Schedule K-1?

Forum|Forum|5 years ago
July 15, 2020
2 replies
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box 1, 2, 5, 14 and 20 are on form 1065; I assume that the rental real estate income does not have interest income, so I think it only goes on K-1 for box 1 - correct?

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rogge1722

Employee

On the original K-1, delete the entry in box 2 and leave the remaining entries intact.

On the 2nd K-1, fill in Part 1 the same as the original, ignore Part 2 and in Part 3, insert the amount in box 2 and leave the remainder of Part 3 blank.