TaxGuyBill
Level 15
a month ago
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I'm not sure why you are mentioning Form 8960 because that has nothing to do with claiming a loss.
- What kind of K-1 is it?
- Is the loss in Box 1, Box 2, or something else?
- Does the client have enough Basis to claim the loss?
- Does the client Materially Participate in the activity (and if so, did you check that box)?