Why are the allowed losses on form 7203 not automatically inputed to the relevant forms such as schedule E or form 4797?
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because Turbotax has a form that is required by the IRS that you can enter the numbers but it does nothing to limit losses or report income when shareholder loans with a reduced basis are repaid or income should distributions exceed tax basis. the losses can only be handled through form 6198 at-risk. as for reporting the income from the types of events described you are on your own.
So in other words it is beyond the complexity of what turbotax can handle and manual inputs are required?
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