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Level 3
April 15, 2022

Can a client (on their personal tax return) carry over a loss that was not needed if the loss was from their K-1 S-Corp?

  • April 15, 2022
  • 1 reply
  • 4 views

If so, the system seems to not being do this automatically...so how do I prompt this carry over?

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1 reply

sjrcpa
Level 15
April 15, 2022

If the loss was able to used on a particular year's return it is used, whether it is "needed" or not. No picking and choosing when to use it.

The more I know the more I don’t know.