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K-1 shows a balance in the capital account in the final year of the return. where do i record that amount on my clients 1120S so they get the additional loss?

bjean
Level 1
My client has an interest in a partnership so this is a passthru K-1
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1 Comment 1
sjrcpa
Level 15

So the S Corporation had an interest in a Partnership?

Any remaining basis in the partnership, which probably isn't equal to the remaining capital account on the K-1, is a Schedule D capital loss


Ex-AllStar