When entering your K-1, you manually only enter the amount that is allowable. You then manually carry forward the amount that is not allowed due to Basis.
Form 7203 should be part of the TurboTax return you are preparing. If you or your CPA has a Basis calculation, that basically what Form 7203 does.
For the carryover, you mentioned line 35. Is that on Schedule E? Do you have a K-1 from an Estate or Trust? Is this the final year of the Estate or Trust?
