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K-1 with multiple activities

taxguy80
Level 1

How do I enter multiple activities from a K-1 instead of just entering it summarily?

For example, line 2 real estate loss is made of 3 activities. I don't want to enter the same K-1 3 times and trying to avoid it showing up on Schedule E (p2) as 3 seperate K-1s.

 

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4 Comments 4
itonewbie
Level 15

Why?

If your client qualifies for the special allowance on F.8582, that will need to be allocated among all the activities to determined the disallowed loss for each.

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taxguy80
Level 1

Nope. Materially participating but tracking each activity separately since not aggregating. Some have suspended losses from prior that needed to be releived upon disposition of activity. 

also I have a k1 with 10 activities and 2 of them passive and 8 non passive. 

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itonewbie
Level 15

What's stopping you from creating just one other K-1 to enter the sum of all income/losses from F.8825's/Box 2 for rental R/E activities in which he materially participated, assuming he's a R/E professional?

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itonewbie
Level 15

You can make multiple entries on a single line by clicking on the + sign on the right of the input cell.

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