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Level 3
September 15, 2022
Solved

At-risk inputs via 1120-S

  • September 15, 2022
  • 1 reply
  • 5 views

Hi all - I'm a bit stumped on this one. Is there an at-risk limitation input on the 1120-S for partnership K-1 losses? (S-Corp owns a partnership with losses). I can't seem to figure out how to limit the losses produced by the K-1 at the S-Corp level. Thanks.

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Best answer by sjrcpa

You'll need to enter only the allowable loss in the software. Keep a workpaper showing the excess amount for when they may be at risk.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
September 15, 2022

You'll need to enter only the allowable loss in the software. Keep a workpaper showing the excess amount for when they may be at risk.

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