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Level 1
April 1, 2021
Question

pass through entity expenses

  • April 1, 2021
  • 2 replies
  • 8 views

If business expenses were filed on the Pass Through Entity return, do I also include them in my personal return?

 

    2 replies

    Level 15
    April 1, 2021

    No. You do not.

     

    The pass-through entity will provide you with a Schedule K-1 which you report on your personal tax return.

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    M-MTax
    Level 15
    April 1, 2021

    If you get a K-1 then you don't enter the expenses a second time.....just enter the K-1 numbers.