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If you have a 2018 K-1 from the S corporation (the K-1 shows a tax year ending in 2018), you need to enter that information into your 2018 personal income tax return (Form 1040).
You cannot defer the loss (i.e., choose not to report it) until the 2019 tax year.
Thank you!
If you have a 2018 K-1 from the S corporation (the K-1 shows a tax year ending in 2018), you need to enter that information into your 2018 personal income tax return (Form 1040).
You cannot defer the loss (i.e., choose not to report it) until the 2019 tax year.
Thank you!
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