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Business & farm
This is an area that TT needs taxpayer input as TT does not maintain your basis schedule.
I would not override the loss. Too many issues with doing so.
What you need to do is find out where form 6198 Part II line 6 is driven from. Once you do, you need to input zero on this line. Appears that since line 10b is correct, this should have resolved the issue.
The next item I would look for is to make sure the form 6198 is linked to that specific K-1. Can't tell you how to accomplish that, but it does need to be linked for the software to properly handle the at-risk limitation.
If the above doesn't resolve the issue, reply and I will use a "phone a friend" helpline.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
March 19, 2023
4:49 PM