where do you add K-1 loss on 1040
K-1 Losses. If your K-1 shows a net loss, you report it on the appropriate tax schedule, for example Schedule E for a partnership. Then you write in the loss on your Form 1040 and deduct it from any other taxable income.As long as you end up in the black overall, you can deduct all your losses.RS Schedule K-1 is the schedule that partnerships, S corporations and limited liability companies use to report business income and losses.