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Business & farm
Thanks again for your help. Knowing that you also manually adjust K-1S carryforwards makes me feel more confident about also doing it.
I tried overriding the $0 carryover in this year's K-1S to the actual from the 7203 and it recalculated the allowable loss, so that wasn't a solution.
Clearly there's an issue with how the new 7203 info flows through the TT K-1S. Hopefully it will be fixed next year. My only concern is if some IRS program will flag next year's return due to a discrepancy in the $0 carryforwards shown in this year's K-1S vs. the actuals that I'll put in next year's form.
‎April 1, 2022
6:31 AM