My Brandon, Florida CPA firm provides expert accounting services and tax preparation for individuals, businesses and non-profit organizations at reasonable rates. I strive to sweat the details so that my clients don't have to. Email me at cpapennewell@verizon.net My CPA firm is based out of Brandon FL 33511 but is not limited to the Brandon area. If you need tax preparation, accounting services or advice, this CPA can help! Call me at (813)657-4137 or email at: cpapennewell@verizon.net
Yes, ordinary business losses reported on a Schedule K-1 can generally be used to offset your net short-term capital gains on your personal tax return (Form 1040), provided you meet certain requirements regarding basis, at-risk limitations, and passive activity rules.
posted by Nick Pennewell, CPA at 11:07 AM
I am well versed in the studies of accounting and finance. I have a degree in Accounting from Florida Southern College and also a degree in Finance from the Florida State University.
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