On the Schedule K-1 form, where will I find information about the "passive loss carryovers" I must enter?

Forum|Forum|6 years ago
February 3, 2020
3 replies
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DaveF1006

Level 15

When you enter your K1 information and before the interview ends, there will be a screen entitled Other Situations and on top of the list is entry entitled I have passive activity losses from last year. You will check the box and then it will ask you what the passive loss amount you need to enter. Check your K1's to see if if it is listed on the K1 or review the supplemental disclosure information that is included with your K1 to see if the information exists. You may also contact the issuer of the K1.

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capozzic

Level 2

I'm still confused. The Scheduled K-1 report I received doesn't have information about this "Carryover for 2018" I don't believe I have any to carry over.. Please advise..

Chuck C

Carl

Level 11

I don't believe I have any to carry over..

Your probably dont. But if the business deals with rental properties, I'd be surprised if you didn't. You'll have to take this up with the issuer of the K-1. For future reference, you need to let the reader know what kind of K-1 you have. Could be a 1065 K-1 or an 1120-S K-1. The line numbers do not match up between the two types.