trading loss reilef for class 4 nics? | AccountingWEB

trading loss reilef for class 4 nics?

client is  a partner in 2 partnerships. One has made a current year profit and the other a current year loss.  I understand that you can offset the loss against the profit for class 4 purposes as well as tax purposes.  Can someone confirm this for me?

Also, I use tax assistant software.  I cannot figure out how/where to do this on the software. Anyone and ideas?


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Software often cant....

Ford |
Ford's picture

Thanks ford

imbs |

Must the loss C/F for Class 4

Wall1690 |