Skip to main content
April 5, 2025
Question

K1 Current Year Income (loss)

  • April 5, 2025
  • 1 reply
  • 0 views

When entering Capital Account Information the note says "Enter a negative amount for a loss.".  On the K1 form says Current Year Income (loss) is a positive number.  Do I enter a positive number or a negative?

    1 reply

    Rick19744
    Employee
    April 5, 2025

    Then you have income and that should be entered as a positive.

    *A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.