Re: Can Ordinary Business Loss from S Corporation. , form 1120 S Schedule. K-1 line 1, offset Long Term Capital gain from Sale of public stock on my personal account ( not S Corp account) on Form 1040. for tax year 2020 ?
1. “ form 1120s Corp K-1 , line# (1,000) loss
2. LongTerm Cap gain on sale of public stock ( not on S Corp Books) private. $400
can you offset or must pay long term cap gain on th $400- assume I’m in 20% rate
