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I am the sole shareholder and I have a net operating loss,

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how do I do schedule...
I am the sole shareholder and I have a net operating loss, how do I do schedule k-1?
Submitted: 2 years ago.Category: Tax
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Answered in 49 minutes by:
9/12/2015
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4,773
Experience: 35 years tax experience, including four years at a Big 4 firm.
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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.

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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago

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

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