I am using TT Personal 2021 to match the TT return the one my accountant did last year. My goal is to complete the 2022 return myself. My only open issue is I have stock of Magellan Midstream Partners, an MLP that provides a K-1 each year. His Tax Return Carryovers to 2022 show the -865 as a Passive Activity Loss, but I have difficulty getting this result in TT. On the K-1 form in TT 2021 I enter the annual loss of -865 onto the QBI Section D2 of the form. I enter the loss on Line E-3 but Line 4a shows a 0 calculated result. If I add the -865 to 4b then the -865 flows to Form 8995 Line 6. This calculates my Tax Return Carryovers to 2022 correctly but I don't feel it's the correct approach.
The 2021 return from my accountant (a CPA I have used for 15 years) has the -865 on form 8995. He did not use form 6198 and his summary chart shows the -865 as a 2021 Disallowed Loss and no current or Prior Year At-Risk or Passive Disallowed Losses.
I should mention I have checked the Box "All Investment in Partnership is At-Risk". Frankly, I reviewed many threads in the Forum and its still not clear if that's accurate or not. However, when I try checking the "Some Investment is NOT at Risk" it forces the use of Form 6198 and changes other calculations that overall appears a much worse approach.
Thanks in advance for your help,
Brett
