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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4105
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I am the sole shareholder and I have a net operating loss,

Customer Question

I am the sole shareholder and I have a net operating loss, how do I do schedule k-1?
Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax, and can assist.

I assume you own an S corporation. Examine your corporate records to ensure you have sufficient basis to take the loss. If so, just report the loss on line 1, ordinary income or loss. Then report the loss on your Form 1040 as appropriate.

Expert:  PDtax replied 1 year ago.

Thanks for asking at Just Answer. Positive feedback is appreciated. I'm PDtax.

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