Drake Tax - 1065: Loss Carryover

Article #: 10172

Last Updated: October 21, 2024

 


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Where to enter a loss carryover on a 1065

A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it "passes through" any profits or losses to its partners.

Each partner's share of income and loss from the partnership is included on the partner's individual return.

See the 1065 Instructions and K-1 Instructions for details.