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Level 1
December 16, 2019
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An LLC (treated as a partnership) has a loss reported ob Line 10 of K-1, is the loss deductible?

  • December 16, 2019
  • 1 reply
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Best answer by sjrcpa

Maybe.

Is LLC member passive or not? Does LLC member have sufficient basis?

Are there other income items on the K-1?

Is this a final K-1?

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 16, 2019

Maybe.

Is LLC member passive or not? Does LLC member have sufficient basis?

Are there other income items on the K-1?

Is this a final K-1?

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