K-1's, does your tax software do this?

[David1980]

This is common. Not just ProSeries.

[Gretel]

PS tech support showed me that I need to manually create a new K-1 with same EIN for same partner within the 1040 for each Partner. Is that what you do Gretel?

Yes, it is.

[jeinal]

Part 3 Line 2

Line 2 comes from Form 8825. I dont have Pro Series. Maybe you
have that form.
Joane

[jeinal]

Part 3 Line 2

Line 2 comes from Form 8825. I dont have Pro Series ---maybe you have
the Form!
Joane

[jimmcg]

Yes, this is the only way ProSeries can handle this. It hasn't changed in 11 years.

It's a software problem for ProSeries. Been that way for several years. Their software geeks are not astute enough to solve it.

[AZ-Tax]

Thanks Gretel

PS tech support showed me that I need to manually create a new K-1 with same EIN for same partner within the 1040 for each Partner. Is that what you do Gretel?

[Gretel]

When a P'ship has "ordinary loss or income" Part 3 line 1 and also has "net rental real estate" income or loss Part 3 line 2, it needs to generate a K-1 for each on the same partner. I have ProSeries software.

Yes, this is the only way ProSeries can handle this. It hasn't changed in 11 years.

[taxea]

AZ Tax I sent you a private message. Don't you check your messages?

[Burke]

Are you sure? Not sure I have ever had one with both, come to think of it, but why would it need to generate two if that were the case? They are treated differently depending on what line it is.

[AZ-Tax]

When a P'ship has "ordinary loss or income" Part 3 line 1 and also has "net rental real estate" income or loss Part 3 line 2, it needs to generate a K-1 for each on the same partner. I have ProSeries software.