How does a k-1 capital account decrease in the current year affect current year taxes?

posted

Connect with an expert

1 Best answer

Accepted Solutions

How does a k-1 capital account decrease in the current year affect current year taxes?

It really has no affect on taxes. You most likely had a loss on your K-1 which created a decrease in your capital account. However, all that gets reported on your personal return is the loss.

View solution in original post

1 Reply

How does a k-1 capital account decrease in the current year affect current year taxes?

It really has no affect on taxes. You most likely had a loss on your K-1 which created a decrease in your capital account. However, all that gets reported on your personal return is the loss.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

How does a k-1 capital account decrease in the current year affect current year taxes?

How does a k-1 capital account decrease in the current year affect current year taxes?

How does a k-1 capital account decrease in the current year affect current year taxes?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

How does a k-1 capital account decrease in the current year affect current year taxes?

Do you have an Intuit account?

How does a k-1 capital account decrease in the current year affect current year taxes?

How does a k-1 capital account decrease in the current year affect current year taxes?

Unlock tailored help options in your account.

Get more help

Related Content