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Level 2
March 6, 2024
Question

1041 Where to enter at risk/basis loss carryover

  • March 6, 2024
  • 1 reply
  • 8 views

I know there is a tab on the1040 K-1 input for entering prior year suspended losses (Basis and At Risk Carry Overs) but I can't find any such entry option on the 1041 K-1 passthrough inputs. Any ideas?

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    1 reply

    sjrcpa
    Level 15
    March 6, 2024

    Manually track.

    In the software enter only losses that are allowed due to the limitations.

    The more I know the more I don’t know.