Solved: Am a partner in an Scorp that does not make profit but have income.I receive no money myself,yet I still get K1's.can I leave this partnership and stop having to pay K1s?

Am a partner in an Scorp that does not make profit but have income.I receive no money myself,yet I still get K1's.can I leave this partnership and stop having to pay K1s?

Can you clarify what your specific situation is? This thread is several years old.

If you are asking about the latest post where the money was being reinvested instead of distributed, then you would need to find alternate sources to pay the taxes due on the income. If you are unable to pay the total taxes due when you file, you can also request a payment plan from the IRS. Please see this link for additional guidance on setting up a payment plan.

@SR74

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