K-1 Losses

Forum|Forum|2 years ago
November 24, 2023
3 replies
10 views

New user. K-1 losses won't come through to the 1040?

TurboTax Home & Biz Windows

Anonymous_

Level 15

K-1 losses from what type of entity? An S corporation or LLC/partnership? A final return from an estate or trust?

Mike9241

Level 15

possibly their losses are passive and not rental real estate related or come from a publicly traded partnership.(PTP)

then they are suspended until there is income.

if real estate, active participation is required but the allowable loss (other than Married filing separately) is limited to $25K. but the amount is completely phased out if you Adjusted Gross Income is over $150K

Mike9241

Anonymous_

Level 15

@Mike9241 wrote:

.....or come from a publicly traded partnership.(PTP)

That was my first thought; PTP or other partnership where there is no material participation.

K-1 Losses

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