End of a S K-1

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  • JG EA
    Senior Member
    • Jul 2005
    • 2176
    #1

    End of a S K-1

    I just need a little reassurance here. Client (passive investor) had a K-1 from an S-Corp for 15 years. Client contributed approx 5k. There were losses each and every year - all small amounts adding up to less than 1k in carryover losses. These we are taking this year.

    No distributions.

    I am also taking the remaining basis on Sch D. For some reason I am unsure of myself and need confirmation. (Or correction.)
    JG
    Tags: None
    • Uncle Sam
      Senior Member
      • Jul 2006
      • 1461
      #2
      Endof S K-1

      Did the K-1 have "Final' marked on top?
      Uncle Sam, CPA, EA. ARA, NTPI Fellow

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        • JG EA
          Senior Member
          • Jul 2005
          • 2176
          #3
          Originally posted by Uncle Sam
          Did the K-1 have "Final' marked on top?
          Yes, thanks it did.
          JG

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            • JG EA
              Senior Member
              • Jul 2005
              • 2176
              #4
              Originally posted by Uncle Sam
              Did the K-1 have "Final' marked on top?
              So, was that my answer?
              JG

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