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S-Corp Losses /Carryover

lisaj
Level 2

I have a S-Corp K-1 which shows a loss of 49,874 - However the basis on 1/1/2018 was 33,800 so there needs to be a loss carryover of 16,654 and I cannot get it to calculate this correctly.  It is allowing the total loss of 49,874.  Any suggestions on how to do this?

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1 Solution

Accepted Solutions
IRonMaN
Level 15

Your lucky number for today is 6198.

Check the correct box on the K-1 worksheet letting the software know that you have at risk limitations.


Slava Ukraini!

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8 Comments 8
IRonMaN
Level 15

Your lucky number for today is 6198.

Check the correct box on the K-1 worksheet letting the software know that you have at risk limitations.


Slava Ukraini!
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lisaj
Level 2
Well for whatever reason I am not seeing that box.  
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IRonMaN
Level 15
On the K-1 worksheet in the 1040 module, Part II.

Slava Ukraini!
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lisaj
Level 2
I see that and have all investment at risk and filled out the 6198 with all the correct numbers but it still allowing the loss and not just a portion of it.  
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lisaj
Level 2
I added an attachment
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IRonMaN
Level 15
You need to check the other box "some investment not at risk"

Slava Ukraini!
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lisaj
Level 2
OK - that is what I was thinking.  Now I just need part of it deducted.  
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lisaj
Level 2
I got it - I have the 6198 filled out.  
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