Jump to content
ATX Community

K-1 from 1065


sts
 Share

Recommended Posts

52 minutes ago, sts said:

I have a K-1 with loss in box 1 of -159. it does not show up on sch E or 1040. partners capital account ending balance is $429.  where should I key in $429 as basis for loss to be deductable

Are you sure the partner's basis is the same as the capital account for this partner?  Many times it isn't.

  • Like 2
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...