MarinaEA
Level 4
05-07-2021
12:09 AM
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TaxGuyBill,
Trying to make sure that I do this correctly. So the client has a 80K loss with 10k basis for 2020. So I would enter a 10k loss on the K-1 1040 line 1 and where would I enter the carryover 70k loss next year if the basis allows? I don't see where to enter it on a Schedule E p2. Does this go on the K-1 Worksheet Section A Activity Adjustment to Income or Loss under column (b) suspended loss carryover from prior years?
Thank you so much!