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New Member
posted Jun 3, 2019 11:32:51 AM

Do i need to file a k1 if the amount in Box 1 is negative? I don't care about a deduction the loss is not worth the effort ($158).

The K-1 is for a publicly traded LLC that I sold for a gain already reported on my 1099-B.  If I am not legally required to input data from my K-1, I don't even want to.  It is not worth the effort.

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1 Best answer
New Member
Jun 3, 2019 11:32:52 AM

You are not required to report deductions or losses, only income.

1 Replies
New Member
Jun 3, 2019 11:32:52 AM

You are not required to report deductions or losses, only income.