- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
You can claim a loss only up to your basis--$15,000. The rest of the loss can be carried over until you have sufficient basis to take the rest of the loss.
Once you have utilized all stock and loan basis to deduct losses, you need to complete Form 6198 in TurboTax. This will allow the program to compute the amount at-risk and track suspended losses for future years.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎June 1, 2019
7:52 AM