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J
JJ55
Level 2
February 22, 2023
Question

7203

  • February 22, 2023
  • 1 reply
  • 17 views

After completing form 7203 the K-1 loss is not fully deductible because of basis limitations.  When the loss transfers to Schedule E page 2 the total loss is showing which is in error.  Please advise if you are having the same issue or if you have any suggestions.

 

Thank you.

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1 reply

sjrcpa
sjrcpa
Level 15
February 22, 2023

ProSeries does not limit the loss by basis. You have to do it manually.

The more I know the more I don’t know.
    J
    JJ55Author
    Level 2
    February 22, 2023

    Thanks!

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