Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 03-05-2015, 12:31 PM
Junior Member
 
Join Date: Jan 2015
Posts: 10
LLC-Correcting

What is the easiest way to correct our personal 2012 LLC K1 status? The CPA we used put us as active when we should have been passive.The CPA has passed away so can't ask her to change it.
Can I request from the IRS a change in our entity status-Part II, line 11 on K-1. Nothing else will change on our or our partners K1's.If so, I assume I will
need to create a 1040X as the active loss when I reported it on our 1040 created a NOL that I did not need.We had zero tax liability from 2010-2013 without this loss.
Would I do a 1040X and attach a corrected Schedule E and a form 8582 (can't use the loss yet.) Would I also send the original K1?
Thank you.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Correcting excess depreciation (7 years) and a (stupid) Form 4562 cost-basis GummyBear Rental Real-Estate 1 02-10-2011 12:05 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.