BobKamman
Level 15
08-31-2021
05:20 PM
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Terry is right, I just had to do that on a shareholder 1040 K-1 entry in order for the loss to show up. I think the idea is, how would the preparer know which shareholders in which years are actively participating? Not a problem in most cases, when both the corporation and the shareholder are clients, but responsibility for the determination should be at the shareholder level.