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posted Mar 7, 2021 3:52:14 PM

Why doesn't my k-1 loss appear in turbo tax?

I received my K-1 last year after I filed my 2019 taxes, so I'm attempting to amend my 2019 taxes with the K-1. This K-1 is for the final 1041 return on the estate. It has about a $26,000 loss in the 11a box. This loss is from rental property if that makes a difference. However, in Turbotax it's just showing as $0 and not deducting anything. Shouldn't I be able to deduct the loss on my taxes since it's the final tax return for the estate? 

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Level 15
Mar 7, 2021 4:31:35 PM

@aravenwhite wrote:

...Shouldn't I be able to deduct the loss on my taxes since it's the final tax return for the estate? 

Yes, but you are going to need to use a desktop version of TurboTax in order to get the loss entered in the appropriate place on your return.