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New Member
posted Jun 1, 2019 10:40:06 AM

Should a K1 loss not reduce my tax burden?

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1 Replies
Expert Alumni
Jun 1, 2019 10:40:07 AM

Maybe. A K-1 loss will reduce your personal tax burden if you have income that can be offset by the K-1 loss. TurboTax will do the calculations for you once you enter your K-1 into TurboTax.