Thankyou guys - I think I'm getting it now. I need to calculate my Basis Limitation and my At Risk Limitation. I can deduct the lower of the two. Both calcs are offline based on K-1 info and there is no TT or Excel sheet to do that calc, but there is an IRS PDF Worksheet I can type into. If the At Risk Limitation is lower than my Basis Limitation, then I also need to fill in Form 6198 (also offline).
So I think I'm ok for now (unless you tell me I'm wrong!) - appreciate your help!
