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Do I check "at-risk" if my Ending capital account is a negative figure?
For the 3rd year in a row I have a loss (passive) on my K1 and cannot take the loss on my taxes. TurboTax has carried the losses from 2019 & 2020 as a carryover. How do I answer TurboTax when it asks if my investment is at risk? Does the "Ending Capital Account" figure on my K1 (which is currently a negative dollar amount) affect if I am or am not at risk?
March 30, 2022
9:03 PM