carryover loss and K-1

Discussion in 'Professional Trading' started by yip1997, Apr 2, 2007.

  1. Suppose I have a carryover loss of 20K from my retail account. This year, I make 30K from a prop firm with a K-1, how do I take my carryover loss to reduce my K-1 gain?

    How should I do that in my 1040?
  2. Surdo


    K-1 has lines that breakdown the types of income such as Dividends, Capital Loss/Gain and will flow to the Schedule D and net accordingly with last years C.L. Carryover.

    See Schedule D Lines 5,6,12,14

    el surdo

    not-a-CPA>>>>but works for food or beer!