hello
i have a S corp that i own 100% single member. i had a loss in 2024.
when i enter my K1 information into my personal tax return, it doesn't reduce the amount of taxes owed.
shouldn't i be able to deduct my loss and reduce my tax liability?
Update: this loss is in box 2 - real estate rental ... more research shows it can only be written off against other "passive income", so this might be the reason?
thank you!
