how to report portion of the losses 1120s K1

an · ‎09-07-2021

client has losses for 2020 but he does not wants report k1 for 2020 he wants to forward for

next years. he wants to report a portion of it

Accountant-Man · ‎09-07-2021

He can't do that. Tell him to hire a professional.

** I'm still a champion... of the world! Even without The Lounge.

abctax55 · ‎09-07-2021

"....Tell him to hire a professional. "

@Accountant-Man - You forgot the /S

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

dd4vols · ‎09-07-2021

I'm trying to find in the IRC where the client makes the rules about how much loss (or gain), to report. And to think, all these years, I've been reporting actual gains and actual losses... SMH

If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.

Terry53029 · ‎09-08-2021

@dd4vols That IRC reference is Joes barbershop, and a lot of my clients try to use it.

how to report portion of the losses 1120s K1

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.