Schedule K1S Reporting Real Estate Loss

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@eduardo wrote:

I have a client with a Schedule K1S reporting real estate losses.

Can the taxpayer claim the real estate losses on Form 1040 to reduce other K1S income

received in Tax Year 2022?

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They have a real estate in an S-corporation?  That is generally not a good idea.

Real estate losses are usually Passive Losses, unless there are circumstances that makes it non-passive (nothing in your post indicated it could be non-passive).  That means losses are not allowed, except to the extent of (a) passive income or (b) if their income is below the threshold, and limited to up to $25,000.  Any non-allowed Passive Losses are carried forward until they can be used against (a) income from a Passive Activity, or (b) the Activity is disposed in a "fully taxable transaction".

2022?  Just to confirm, you are preparing a 2022 return, right?

As the 100% owner/member of the LLC, aka a Single Member LLC, (unless the 100% owner/member elected to file an S corp return), the rental income and expenses are reported on the 1040 Sch. E.

It is a Disregarded Entity.