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D
dipesh-patel
September 4, 2023
Question

I have a real estate investment K1 with Box 1 and Box 2 checked. I believe I need to enter TWO separate K1s. Box 2 #s are larger than the Box 1.How do I fill the forms?

  • September 4, 2023
  • 1 reply
  • 0 views
Need help figuring out how to split the data in the forms between the two separate K1s I will be creating. How do I know what to report on each form?

1 reply

A
Anonymous_
Employee
September 4, 2023

What is the nature of the business (and your investment)?

 

Line 1 is ordinary income(loss) and could be entered by itself while box 2 would entail the population of other lines on your K-1 (entered with Box 2) or vice versa; it depends.

D
dipesh-patelAuthor
September 7, 2023

It is a real estate investment.

A
Anonymous_
Employee
September 7, 2023

Everything related to the investment in real estate should be entered on the same K-1 in TurboTax as Box 2.

 

Box 1 can most likely be entered by itself on the second K-1.

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