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Level 1
posted Feb 18, 2025 9:10:31 AM

Entering negative numbers Schedule K-1

Schedule k-1 shows ($$$) from a loss. Turbo Tax wants me to enter this number and references it as "ordinary income or loss." When I enter it, does it know it's a loss as opposed to income? Do I need to put a negative - in front of it? My form has parentheses to indicate a loss, but it won't allow these. 

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1 Replies
Expert Alumni
Feb 18, 2025 9:23:29 AM

To enter a loss from Schedule K-1, use a minus sign preceding the amount. For example, loss of $6,000 is entered as -6000.