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ksgilkey1
June 1, 2019
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Blackstone LP K1 TT says create 2 K1's due to ord inc & rental inc (Part III Box 1 & 2). How do I allocate inc, credits... between 2 K1s? (2 similar c?, but opp answrs)

  • June 1, 2019
  • 1 reply
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    Best answer by Rick19744

    You should enter 2 K-1's.  Enter box 2 on its own K-1.  The second K-1 should include all other boxes, excluding box 2.

    1 reply

    Rick19744
    Rick19744Answer
    June 1, 2019

    You should enter 2 K-1's.  Enter box 2 on its own K-1.  The second K-1 should include all other boxes, excluding box 2.

    *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.
    R
    rubs76
    June 1, 2019
    I did exactly this but it is only showing amount from box 1 on 1040 and not from box 2, for example i added -$380 from 1st box on 1st K-1 and -$250 from box 2 on 2nd K-1 so i was expecting $-630 but it only showing $-380
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