I am trying to fill out my S-Corp K-1. I have being in business for three years, the first year an accountant did my taxes
. I have never made a profit so this year I filled the 2009 and 2010 together, but I don't know if in each year K-1 I only include the losses for that year or if each year losses should be added.
-3 shareholders. Total initial investment of $15000. (51%, 24.5%, 24.5%)
-2008 Ordinary Business Loss -17,863, K-1 line 1 is -5,954, line 16 is C 3
-2009 Ordinary Business Loss -7,643, don't know what to do on K-1.
-2010 Ordinary Business Loss -1,273, don't know what to do on K-1.