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Get your taxes done using TurboTax
Thank you for the quick response. So, I have now added a form 6198, which appears indented under the relevant Schedule K1, which I presume means that it is linked to that K1. I have completed the form 6198 (mostly redundant with form 7203), but the amount of loss that appears on my Schedule K1 and also schedule E is still the original loss from the K1, absent the limitation from form 6198. Do I need to manually update some amount on the K1 or schedule E to be the number that appears on line 21 of Form 6198. One would think Turbotax would automatically do this.
‎September 19, 2023
2:52 PM