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Business & farm
Yes, I am showing a negative number on Item F of the 1120-S as my total income was less than my deductions. Is that allowed?
I am the only shareholder in my S Corp and own 100% of the corporation. Are you saying that if I have a negative k-1 I will be able to deduct that from my w-2 income that I paid to myself.
Thank you!
‎September 13, 2024
6:18 PM