503987

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