FORM 1041 - K-1 SALE OF HOME WITH BIG LOSS

[janeh546]

THE 1041 IS SHOWING A $3000 LOSS.  THE TOTAL LOSS ON THE HOME IS ABOUT $100,000.  BUT DOESN'T FLOW THROUGH TO THE K-1.  SO DOES THIS MEAN THE TOTAL LOSS WILL BE ON THE K-1 WHEN I FILE THE FINAL FORM 1041?

[dd4vols]

Yes.. well the total loss, less what your have already reported in prior years, if any.... 

[janeh546]

So the $3,000 loss for this tax year that is showing up on the 1041 will not flow to the K-1's and the full amount of the loss will flow through on the final 1041 next year?

[sjrcpa · Accepted solution]

Correct.