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June 5, 2019
Question

K-1 has rental and construction so I have entered two separate K-1s in Turbo. Do I enter the same "nonrecourse financing on both?

  • June 5, 2019
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1 reply

Rick19744
Employee
June 5, 2019

No.  When entering two separate K-1 input screens for the same K-1, you should enter all lines EXCEPT the rental income / loss line on one K-1 input screen and then ONLY the rental income / loss figure on the other K-1 input screen. 

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.