S Corp with a loss; how do you show suspended losses? on K-1 and return?

[itonewbie · Accepted solution]

You mean the shareholder?  That would depend on the kind of loss it is but PTO should handle that quite seamlessly if you made the input correctly.

What problem are you having specifically?

[PhoebeRoberts]

And if you're working on the 1120S, nothing gets suspended at that level.

[TaxGuyBill]

... except for possibly §179, if that applies.

[PhoebeRoberts]

And 179 would be suspended on the Form 4562!

[singer1227]

My client has a K-1 schedule  with a loss in the amount of $5,000.00 from an S Corporation.

Where do I enter that in his 1040 individual tax return?

[singer1227]

I am working on his Federal 1040.  Where do I enter the loss?