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  • Apr 7, 2007, 10:19 PM
    Loscille
    Corporate Partnership Accounting Entries
    I have been doing accounting for 25 years, and have just encountered an entry I've never made before. I need to record a loss from a K-1 Form in corporate financial statements, and on tax returns. Help!
  • Apr 8, 2007, 08:03 AM
    delite
    Quote:
    Originally Posted by Loscille
    I have been doing accounting for 25 years, and have just encountered an entry I've never made before. I need to record a loss from a K-1 Form in corporate financial statements, and on tax returns. Help!
    For financial reduce equity in entity by loss. For tax record as an ordianry loss.
  • Apr 17, 2007, 10:52 AM
    AtlantaTaxExpert
    Sounds right to me.

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