Schedule K-1

[tsuewalker]

Client has a K-1 that shows a loss in box of -857. There is an amt of 500 in box 19a. Where does this amount go, if anywhere?

Thanks for your help in advance.

[ATSMAN]

Without checking my cheat sheet I believe box 19 figures are for basis adjustment and does not directly impact the income or loss on 1040.

[taxea]

Client has a K-1 that shows a loss in box of -857. There is an amt of 500 in box 19a. Where does this amount go, if anywhere?

Thanks for your help in advance.

what line is the -857 on?

[kathyc2]

Client has a K-1 that shows a loss in box of -857. There is an amt of 500 in box 19a. Where does this amount go, if anywhere?

Thanks for your help in advance.

It's the amount of the distribution. It may not show anywhere on current year return if it does not exceed basis, but is needed to track basis.

[Uncle Sam]

K-1

Is this a K-1 for a partnership or S Corp?

[spanel]

Are you asking where to put k1 in general?

[tsuewalker]

K-1

Line #1 on the K-1.

[tsuewalker]

No, I know where they go. It's just that my software has no line to put the distribution of $500 on 19A. Does it go anywhere else?

[tsuewalker]

Thanks. I thought so but I just wanted to make absolutely sure.