Thanks for your reply AmeliesUncle!
Re: Sorry for the misunderstanding, but it doesn't go to waste. It is carried forward until it is eligible to be used (in your case, when Basis is restored).
billydbrown: I recognized the partial amount allowed by basis. That's the part that goes to waste because it doesn't change my tax liability. Let me know if I'm missing something.
Re: Form 6198 for At-Risk does not apply and should not be filed. Some people incorrectly use that to limit Basis (TurboTax does not limit it automatically, you need to do it manually), so some people incorrectly use Form 6198 (At-Risk) instead. Don't do that.
billydbrown: I'm using my basis to define the limit but good to know I can ignore form 6198.
Re: As for your problem about the error on line 12 of Form 4562, unfortunately, I'm not sure why that line did not auto-populate. Personally, I would remove the override and then finish the return and check for all other errors. Then see if something made it auto-populate (and also check if there is more than one 4562 on the return, just in case something is showing up on a separate form).
billydbrown: I think it did auto-populate originally but I overrode it. Now, the software doesn't recognize the override nor does it allow me to cancel it. As mentioned originally, all options in the functions menu (rt click) are greyed out except the bottom "about..." link. There is only one form 4562 in my return. Is this file corruption. OK to delete the form?
