@AliciaP1
Hi,
Thanks for the reply. I checked for the update today and I see that it isn't ready. I'm using TT 2020 to amend.
I'm not sure if this update also addresses the issues with the manual adjustment needed in K-1 Section D2 Line 4b:
First, this adjustment is for the PAL loss limit that isn't being applied to the QBI loss when TT is applying an At-Risk rules loss limit. The instructions say this must be entered manually, which I would think TT could easily do).
Second, this PAL adjustment for the QBI is also supposed to be tracked on a FIFO basis, including the years when there was no suspension amount under at-risk rules. It isn't that obvious how this manual PAL is carried forward.
Third, are the at-risk carryforwards being calculated properly? If there is an allowed loss at-risk loss amount, it should free up prior-year disallowed at-risk losses first. The relevant amount from those years should not be carried forward once used. But TT seems to be calculating it LIFO.
