On Schedule K-1 (Form 1065), I'm confused on whether I fill out the "Part III" section. In the instructions from the IRS (page 24, last paragraph on page forward), it is unclear to me on whether it is saying that this is filled out only if the partner's allocations are different from the amounts listed on the 1065 form.
If it is required, and the partner's share is just 50%, do I simply take the 1065 values, and fill in 50% of those amounts for this Part III section on the K1?