Answered: An LLC (treated as a partnership) has a loss reported ob Line 10 of K-1, is the loss deductible?

jwwarejr · ‎12-16-2019

sjrcpa · ‎12-16-2019

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.

sjrcpa · ‎12-16-2019

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.

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