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pwa4agb
New Member

Can I re-link a K1 to prior year for carryover purposes if I accidentally deleted this year's K1?

 
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1 Reply
PatriciaV
Employee Tax Expert

Can I re-link a K1 to prior year for carryover purposes if I accidentally deleted this year's K1?

No, but you can re-enter the information from Schedule K-1. You'll also need the K-1 Partner worksheet for this investment from last year's return.

 

Open your return and go to the list of Schedules K-1 in your return.

  1. Choose the type of K-1 you need to enter and click "Add Another K-1."
  2. Work through the interview until you see the page "Describe the Partnership." 
  3. Check the box for "I have passive activity losses carried over from last year."
  4. Continue through the next screens where you can enter/edit passive losses for both regular and AMT tax and QBI.
    1. Find the Section A on the prior-year K-1 Partner worksheet. Suspended losses (carryovers) appear in Column (d).
    2. Section B has carryovers for AMT purposes.
    3. Section D1 shows QBI carryovers after Line L as "Carryovers to 2024."
  5. Continue through the interview until you return to the list of partnership/LLCs in your return.
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