Solved
K1 LOSS
If the 1120S form 7203 shows a loss is disallowed why is the loss showing to be allowed on the 1040? Did I miss entering something?
TaxGuyBillAnswer
September 13, 2024
ProSeries does not do it automatically. You need to do it manually.
When entering the K-1, you only enter the allowable amount of the loss (if any). Then you manually keep track of the unallowed amount and manually carry it to next year.
