My client has a K1 loss of $13,769 from a multi member LLC. Does he have to take this loss this year? Can he take it in 2022 or spread it out over several years? If yes, how do I do that. Thank you.
I think he does. The ending capital account is $28,833. However, they have $7,117 in nonrecourse and $35,396 in qualified recourse liabilities. The loss is only 13,769.
