To answer the second question, yes, PS needs separate K-1 worksheets for different types of income on the same physical K-1: 1) Ordinary, 2) Rental real estate, 3) Other rentals.

PS ain't as high falutin' as dose softwares.

Firstly, in order to PROPERLY input the SEPARATE ACTIVITIES which are owned by an entity so that their accounting can be done separately, specifically in matters of sales of an activity for purposes of the passive loss rules: Yes, unless you don't care about each separate activity.

Iffen I 'member correctly, software like Lacerta and Slow Tax (Fasttax) had sub-schedules which attached to the lead K-1 worksheet. Just click a button and get another activity under the Momma K-1

Not so for PS.