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February 18, 2025
Question

Entering negative numbers Schedule K-1

  • February 18, 2025
  • 1 reply
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Schedule k-1 shows ($$$) from a loss. Turbo Tax wants me to enter this number and references it as "ordinary income or loss." When I enter it, does it know it's a loss as opposed to income? Do I need to put a negative - in front of it? My form has parentheses to indicate a loss, but it won't allow these. 

1 reply

February 18, 2025

To enter a loss from Schedule K-1, use a minus sign preceding the amount. For example, loss of $6,000 is entered as -6000.

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