I have two properties owned by S-corps in which I am the sole shareholder. If 1 was to say loose $1,000 for the year and the other made $1,000 for the year when I file my personal will they offset eachother? In other words does a loss pass through as a loss or as a zero profit and therefore non-taxable?
I have two S-corps, can a net loss and a profit offset eachother?
I have two properties owned by S-corps in which I am the sole shareholder. If 1 was to say loose $1,000 for the year and the other made $1,000 for the year when I file my personal will they offset eachother? In other words does a loss pass through as a loss or as a zero profit and therefore non-taxable?
They would wash each other out.