Question

Since I need to submit 2 k-1 forms on Turbo Tax for amounts in box 1 & 2, Do I need to put the amounts from box 4 through box 20 from my K-1 on both of these submissions?

No text available

Employee

No. The individual amounts on the split Schedules K-1, when combined, must sum to the total on the original.

Another way to say that is that each dollar is to be reported only once, on one Schedule K-1 or the other.

1 reply