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March 18, 2025
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have a K1 that has entries in Part III boxes 2 and 3. When I run the final review, they flag both entries and tell me to delete them. What's gping on?

  • March 18, 2025
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Best answer by PatriciaV

If your Schedule K-1 has amounts in Box 1, Box 2, and Box 3, you will need to add another K-1 to report Box 2 and Box 3 separately (three total K-1s).

 

Enter all the information from Part I and Part II of the K-1 on all copies. Include all information from Part III on the first copy - except for the amounts in Box 2 and Box 3. The second copy should have only the amount in Box 2 from Part III. And the third copy will report only the amount in Box 3.

 

If, however, you received additional information with Schedule K-1 that provides the breakdown of the amounts in the other boxes, use this info to split the other box amounts among the K-1s. Otherwise, follow the instructions above.

1 reply

PatriciaV
PatriciaVAnswer
March 20, 2025

If your Schedule K-1 has amounts in Box 1, Box 2, and Box 3, you will need to add another K-1 to report Box 2 and Box 3 separately (three total K-1s).

 

Enter all the information from Part I and Part II of the K-1 on all copies. Include all information from Part III on the first copy - except for the amounts in Box 2 and Box 3. The second copy should have only the amount in Box 2 from Part III. And the third copy will report only the amount in Box 3.

 

If, however, you received additional information with Schedule K-1 that provides the breakdown of the amounts in the other boxes, use this info to split the other box amounts among the K-1s. Otherwise, follow the instructions above.

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eghuffAuthor
March 21, 2025

Thanks very much.  This fixed the issue, though the interview indicated this, the forms mode did not.