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TurboTax zeroed out the loss and income from k-1 and 199A.

TurboTax zeroed out the loss and income from k-1 and 199A.

Loss $-181, W-2 wages $1009, and Unadjusted basis, $30.

What happened? Should I enter differently?

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2 Replies

TurboTax zeroed out the loss and income from k-1 and 199A.

I'm going to page Champ @Mike9241 for you in order to get some input. Please check back later.

TurboTax zeroed out the loss and income from k-1 and 199A.

A is also suspended if this k-1 is from a publicly traded partnership (PTP- Box D is checked) then losses aren't allowed but can only offset future income or be allowed in the year you fully dispose of it in a fully taxable transaction. The loss for 199A is also suspended. Look at form 8995. unknown if you are using a desktop version where using forms mode (only available in desktop versions) allows you to see the 199A and the loss computation on the k-1 worksheet.

 

the other possibility if not a PTP is a passive loss limitation see form 8582 again if the loss is suspended due to PAL the 199A loss will also be suspended. 

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