Do I have to file a K-1 on which very little income was made?
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I'm trying to learn how to correctly determine the net income taken in a given tax year for the k-1 form. One source told me you add boxes 1 and 4; another source told me that net income is the figure in field 19 Distributions. Please help. Thanks.
I get a k1 form from family corp... On line 2 it shows 83 dollars, I don't know where I need to file that on a 1040, if any where?
Can a loss on line 17 (1040) from k-1 be carried over to next year (active participation)
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Could you please advise how I set up a Personal Drawings account in the QuickBooks chart of accounts? I recall being told not to put it as an expense
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