How and Where do I record the activities of a Single Member LLC owned by a Partnership?

Forum|Forum|2 years ago
March 18, 2024
1 reply
11 views

My problem is how and where do I enter the DE activity, Ordinary Business Income, to show up on the Partner K-1 Attachments, separate from the Ordinary Business Income activity of the Rental Real Estate Partnership (Management & Administrative activity)? K-1, Part III, Line 1. Majority of operations related to the Rental Real Estate activity is reported on Line 2.

Additionally, when I show the results of operations for the enterprise, can I populate both Lines 1 & 2 on each Partner's K-1 (on the same K-1?)

Thanks,

Bill Sittig, CPA

Business

This topic has been closed for replies.

Best answer by dd4vols

can I populate both Lines 1 & 2 on each Partner's K-1 (on the same K-1?)

no..can't be on the same K-1 input wks. I make up a 2nd K-1 input sheet (same FEIN, etc) and call it "Widget Enterprises LLC Rental" , and has worked for years..

dd4vols

Answer

Intuit Community Champion

can I populate both Lines 1 & 2 on each Partner's K-1 (on the same K-1?)

no..can't be on the same K-1 input wks. I make up a 2nd K-1 input sheet (same FEIN, etc) and call it "Widget Enterprises LLC Rental" , and has worked for years..

If an answer solves your issue, click on the "Mark as Best Answer" button! Makes it easier for people to find answers to similar questions that have already been posted.

Sign up

Login with SSO

Let's get you signed in

Login with SSO