You'll need to sign in or create an account to connect with an expert.
You should report the information that was issued to you on the Form 1041-K1, regardless if it is positive income or negative income. The loss will reduce your overall income which will reduce tax.
You should report the information that was issued to you on the Form 1041-K1, regardless if it is positive income or negative income. The loss will reduce your overall income which will reduce tax.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Tetiberryzzz
New Member
VAer
Level 4
cburrows2111
New Member
gregorywins
New Member
millgarten
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.