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S Corp with a loss; how do you show suspended losses? on K-1 and return?

mlcrosby
Level 1
 
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itonewbie
Level 15

You mean the shareholder?  That would depend on the kind of loss it is but PTO should handle that quite seamlessly if you made the input correctly.

What problem are you having specifically?

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Still an AllStar

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6 Replies 6
itonewbie
Level 15

You mean the shareholder?  That would depend on the kind of loss it is but PTO should handle that quite seamlessly if you made the input correctly.

What problem are you having specifically?

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Still an AllStar

View solution in original post

PhoebeRoberts
Level 9
Level 9
And if you're working on the 1120S, nothing gets suspended at that level.
TaxGuyBill
Level 15
... except for possibly §179, if that applies.
PhoebeRoberts
Level 9
Level 9
And 179 would be suspended on the Form 4562!
singer1227
Level 1

My client has a K-1 schedule  with a loss in the amount of $5,000.00 from an S Corporation.

Where do I enter that in his 1040 individual tax return?

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singer1227
Level 1

I am working on his Federal 1040.  Where do I enter the loss?

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