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I have a K1 that has info in both box 1 and 2. TurboTax says…

I have a K1 that...
I have a K1 that has info in both box 1 and 2. TurboTax says I should split it into two K1's. But if I do that, how do I record everything else? I can send you the K1.
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Answered in 3 minutes by:
3/29/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,308
Experience: Adjunct Professor
Verified

Hey! I'm Carter, I'm a CPA and can help you with this.

Once you split the K-1s and have two K-1s, you can report everything on the first K-1 and then just have box 2 on the second K-1.

Let me know if you need anything else. If not, please leave a rating. Thanks!

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Customer reply replied 4 months ago
what about all the parts J, K, L and M?

You can put those on both of them. They will not affect your tax return.

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Customer reply replied 4 months ago
would it be ok if I left all that blank on one of the K1's?

Yup. That works too.

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,308
Experience: Adjunct Professor
Verified
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