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Get your taxes done using TurboTax
unless you know you have enough basis to take all carryover and current losses check the box for the question some investment is not at risk. then proceed to link to form 6198. where your at-risk amount is entered. from that form Turbotax should be able to determine the amount of allowable losses. if you know you have enough basis for all the losses check yes to all investment is at risk.
do realize that if you use loans to absorb losses, your basis in them is reduced. if they are repaid when there is not enough income to restore their full original basis you will have income.
‎October 4, 2021
10:13 AM