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Do I have to take the loss from my S Corp on my 1040?
Our S-Corp had a loss in 2022. I need to spend more time doing the 1120S for the S-Corp and have gotten an extension. However, I want to get my 1040 filed as soon as possible. Since I'm not sure the amount is correct on the K-1's, can I leave that information out on my 1040 and file without taking the loss or reporting the K-1 at this point? It doesn't make a difference in how much tax we owe.
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March 15, 2023
3:00 PM