Shareholder has suspended loss carryforwards and no basis. This year they have ordinary income and received a distribution which would have been capital gain if loss, but under rules now a non-dividend distribution therefore the ordinary income should be the distribution amount and suspended loss limited to income over distribution
How do I override the suspended loss carryover in ProSeries. The numbers seem to be behind the scenes in the program as they don't carry forward to the K-1 input screen or the 6198
Suspension of losses due to Basis are not supposed to be on a 6198 anyways, so there shouldn't be any carryovers in the program. You may need to just delete the 6198.
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