Showing results for 
Search instead for 
Did you mean: 
Visitor II

Entering reported tax information for Schedule K-1 (Form 1120S)

I received Schedule K-1 form 1120S from the S-Corp;  it shows figures in Box 1 (Ordinary Business Income/Loss) and Box 2 (Net Rental Real Estate Income/Loss).  Turbo Tax forces the creation of two K-1 entries in Wages & Earnings to account for this as "two separate businesses".  The S-Corp's Schedule K-1 also shows figures for Interest Income, Ordinary Dividends, Royalties, etc.  However, there is no indication to which of the two K-1 entries in Turbo Tax each number should be entered.  For example, should Interest Income be entered into the K-1 for Ordinary Business, or K-1 for Rental Real Estate).  Has anyone experienced this and solved it?