K-1 Income Tax Question

K-1 Income Tax Question

K-1 Income Tax Question

Do I have to file a K-1 on which very little income was made?

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K-1 Form

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.

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K1 - Line 2

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?

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K-1 Loss

by Bjo
(texas)

Can a loss on line 17 (1040) from k-1 be carried over to next year (active participation)

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Jan 20, 2024
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starstarstarstarstar 		Carryforward Rules and Considerations
by: BB

Yes, you can carry forward a loss from a K-1 to the next year, but the ability to deduct the loss depends on various factors. If the loss is classified as a passive activity loss, it may be subject to limitations.

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