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SureFire Ordinary income loss from activity on K-1 - How do I report ordinary loss on Beneficiary's K-1 worksheet in SureFire

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If you carried forward the return from the prior year the loss would be reported on Form 8582.

Since you do not have a prior year return, you will need to enter manually, override may be required on most of the fields.

Page 1 of 8582, line 2c enter the amount as a negative number.

Page 2 of 8582, Part V: Activity name is 1065/1120S/1041 K1S - enter the amount in column C, you can use the 3rd line,

Complete the 8582 AMT if the amount are required but not flow over, follow the same steps as noted above.

Tags: federal,form