Question
Schedule K-1 from a publicly traded partnership. royalty income entered in the royalty section. TurboTax review had me enter also on k-1. Amount is doubled on income?
Received a schedule K-1 from a publicly traded partnership. The royalty income from the PTP, was entered in the royalties section of turbo tax. Upon federal review, turbotax had a schedule k-1 form requesting the royalties be entered there. The amount was entered there and now the income is being doubled on the 1040. How do you correct and remove so that royalties are only recorded once. THank you!
