I entered k-1 loss and there was no change in federal tax due. Why not?

posted

Connect with an expert

1 Best answer

Accepted Solutions

I entered k-1 loss and there was no change in federal tax due. Why not?

Most likely because it would generally be considered a passive loss. Passive losses can only be used to offset passive income, or they are carried over to future tax years.

View solution in original post

1 Reply

I entered k-1 loss and there was no change in federal tax due. Why not?

Most likely because it would generally be considered a passive loss. Passive losses can only be used to offset passive income, or they are carried over to future tax years.

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

I entered k-1 loss and there was no change in federal tax due. Why not?

I entered k-1 loss and there was no change in federal tax due. Why not?

I entered k-1 loss and there was no change in federal tax due. Why not?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

I entered k-1 loss and there was no change in federal tax due. Why not?

Do you have an Intuit account?

I entered k-1 loss and there was no change in federal tax due. Why not?

I entered k-1 loss and there was no change in federal tax due. Why not?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert