K-1 shows a balance in the capital account in the final year of the return. where do i record that amount on my clients 1120S so they get the additional loss?

bjean · ‎03-23-2023

My client has an interest in a partnership so this is a passthru K-1

sjrcpa · ‎03-23-2023

So the S Corporation had an interest in a Partnership?

Any remaining basis in the partnership, which probably isn't equal to the remaining capital account on the K-1, is a Schedule D capital loss

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