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slduggan1
New Member

K1 deductions; shouldn't my refund increase when I enter a k-1 deduction?

My refund did not go up when I entered a k-1 amount.

2 Replies
Critter
Level 15

K1 deductions; shouldn't my refund increase when I enter a k-1 deduction?

Also some K-1s are passive income so the losses are not deductible currently.
WillK
Level 9

K1 deductions; shouldn't my refund increase when I enter a k-1 deduction?

No exactly. When you increase your deductions and expenses it will decrease your income and you might not be getting as many credits as you did before which will reduce your taxable income which will reduce the refund amount you are getting. 

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