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Sorry it is an Scorp, form (1120-S).
So, form 7203 calculates my allowable loss for 2023 to $27,815 which is also the total loss on line 1 of the K1. So then form 2023 shows no carryover to 2024. However, I have no income in 2023,
Is there any way I can carryover this loss to 2024? If I change my loan or shares to a lower value it reduces the allowable loss value and shows a carryover to 2024 in part 3 of form 7203 but then I am not entering the correct values of my loan or shares. Can I overide the allowable loss vale or do anything to carryover the loss to 2024?
‎October 11, 2024
12:14 PM