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pigdog88
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Jun 6, 2019 6:57 AM UTC
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How does a k-1 capital account decrease in the current year affect current year taxes?

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    Answer
    Jun 6, 2019 6:57 AM UTC

    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.

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    Anonymous
    Answer
    Jun 6, 2019 6:57 AM UTC

    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.

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