- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
K-1 smart worksheet appears to overlay prior year information for Tax Loss Carry-Forward
I have several K-1 PTP's and each seem to have this same issue. Box 1 is a passive loss and seems to create a tax loss carry-forward properly in the 2023 Tax Return. As I view the "Carry Forwards to 2023 Additional Info for Section 199A Deduction, I see the following for this PTP, which is the correct information carried forward into 2023 from the prior tax year:
However, when scrolling further down in the form, I see the following, which appears that the new 2023 carry-forward information overlays the 2022 information for "Regular Tax":
While this doesn't seem to affect this years' filing, I fear that next year the carry forward will not function properly. I'm using TT Premier on a Windows Laptop, loaded from Disc.
March 30, 2024
1:23 PM