form 7203 is for S-corps not partnerships. Tax basis computations for each differ. so, which is it? it should be obvious from the words at the top of the K-1
if you have negative agi, you probably have an NOL. Turbotax does not compute this so if you do it will not roll to 2024
use form 1045-schedule A or PUB 536 to make the computation
except for an NOL arising from farming losses (2 year carryback unless waived) in 2023, it must be carried forward to 2024. there is no longer a carryback provision.
