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Level 2
posted Feb 15, 2025 9:55:27 AM

K-1 1065 loss not reflected in my 1040 returns - Please help

Hello,

 

I am using MAC desktop version of 2024 Turbotax.  The LLC's K-1 1065 loss not reflected in my 1040 returns as the dollar loss is showing up as $0.  I have added the right disrtibutions etc. 

 

On a separate note the K-1 1120S loss is reflected perfectly and reduced my 1040 returns.

 

Thanks

 

0 1 662
1 Replies
Expert Alumni
Feb 20, 2025 8:53:20 AM

It would be helpful to have a TurboTax ".tax2024" file to test this issue further.

 

If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions: 

 

In TurboTax for Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose Share or Help.)

  1. Choose Send Tax File to Agent.
  2. You will see a message explaining what the diagnostic copy is.  Click Send on this screen and wait for the Token number to appear.
  3. Reply to this thread with a screenshot your Token number (this avoids Community filters for numbers with a dash) and tag (@) the Expert requesting the token from you.
  4. Please include any States that are part of your return - this is VERY important.

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.