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We have a two-member LLC where I am responsible for 100% losses. LLC made a loss but Turbotax is allocating the losses between both the members (on K-1)
Line J is correct on both the K-1. My K-1 says 100% for loss, his K-1 says 0% for loss. Still Box 1 shows a negative number on both the K-1s.
‎September 10, 2019
5:36 AM