Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Sign In
  • Elevate 2026 Pencil Banner
    cancel
    Showing results for 
    Search instead for 
    Did you mean: 

    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.

     

    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.

    ---------------------------------------------------------------------------------
    Still an AllStar
    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. 

    0 Cheers
    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?

    ---------------------------------------------------------------------------------
    Still an AllStar
    0 Cheers
    itonewbie
    Level 15

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

    ---------------------------------------------------------------------------------
    Still an AllStar
    0 Cheers