Both forms 7203 and 6198 show that there is no allowable loss, yet Schedule E page 2 reflects the current and prior year suspended losses. This is the final K-1, but unchecking that box changes nothing. What am I missing?
ProSeries treats Form 7203 as merely informational. It does not 'do' anything. You need to manually limit Basis by only entering the allowable amounts on the K-1 worksheet, then manually remember to carry the unallowed loss over to next year.
Are you saying that some losses are initially allowed due to some Basis, but then are restricted to non-allowed due to the At-Risk rules?
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