I have a K-1 showing a profit for 2022. I had a carryover loss from 2021. TurboTax allows me to complete Form 7203 to calculate my allowable carryover loss to apply to 2022. However, when I get finished with Form 7203, the summary shows my Allowed Loss and the "K-1 Amount to Adjust" as the original K-1 value for 2022. It instructs me to manually adjust the K-1 value. If I subtract the carryover loss from the original K-1 value and enter that, I end up with the correct amount on Schedule 1 lines 5 and 10 as well as 1040 line 8. However, Schedule E is not correct per the IRS instructions. Schedule E line 27 correctly has the prior year loss box checked, but there is only a single line listed the non-passive income which is the K-1 amount - the carrover amount. Per the IRS instructions, there should be one line with the actual K-1 amount for the current year and a second line with the carryover amount with PYA in column a. The resulting total is the same, but it says "Caution: The IRS compares amounts reported on your tax return with amounts shown on Schedule(s) K-1". That concerns me. This seems like a bug. I think I could manually adjust that form in the download version, but I'm using the online version. Is there a fix for this in the online version or is there a way to "upgrade" to the downlaod version?
