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Carry over 1065 Multi member LLC loss to next year

I would like to understand if we can carry over 1065 LLC loss from 2023 to 2024 instead of generating K1 and taking it to the personal return. Even though we generate K1, can we do $0 instead of the actual negative 5K amount?

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1 Reply
MinhT1
Expert Alumni

Carry over 1065 Multi member LLC loss to next year

No.

 

The LLC is a flow-through entity. The loss has to be allocated to members and reported on the respective Schedules K-1.

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