Form 6198 is showing a loss limitation, but then carries the total loss to the 1040. Why? I do have outside wages that the total loss could be used against.

[Anonymous_]

See https://www.irs.gov/instructions/i6198#idm139991104142912

@Mike9241 

[Mike9241]

loss from what type of activity reported on what tax form?

if it's schedule C or E (rental), I would think there's probably no at-risk loss limitation because you are personally liable. but this would likely be different if it's a single-member LLC and may well depend on state law. 

for s-corp and partnership the at-risk would certainly apply. note we can't see your returns.

[voni39]

It is for an S-Corp loss - Not sure why it is still including the total loss on Form 1040.    Cant get anyone at TurboTax to answer phone.  Someone told me they sent emails from a previous session during tax season.  

I am at my wits end and will probably just send the amended return in and hope for the best and then make an appt at IRS.

[RobertB4444]

We would like to take a deeper look at this. However, we need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the  directions below:

TurboTax Online:

1. Sign into your online account.
2. Locate the Tax Tools on the left-hand side of the screen. 
3. A drop-down will appear. Select Tools  
4. On the pop-up screen, click on “Share my file with agent.”
5. This will generate a message that a diagnostic file gets sanitized and transmitted to us.
6. Please provide the Token number in a reply to this post.

TurboTax Desktop/Download Versions:

1. Open your return.
2. Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent”
3. This will generate a message that a diagnostic copy will be created.  Click on OK and the tax file will be sanitized and transmitted to us.
4. Please provide the Token Number that was generated in the response.  

Thanks @voni39

[voni39]

Hi

Uploaded document - 1049050.

Thank you

[RobertB4444]

@voni39  Your tax return shows a nonpassive loss from your K-1.  

If you actively participated in the operation of this S-Corp then your loss is not limited.  So everything on your return looks correct.  

If you did not actively participate in the operation of the S-Corp then you need to re-enter the K-1 and tell the system that you did not actively participate and that this is a passive investment.