1336561
I'm concerned I've found a bug in TT 2019, Form 8582...Part I, Line 3b
Line 3b are current year activities with net loss
Line 3c is prior years unallowed losses
I believe Line 3b is also picking up the prior year's unallowed losses, making those double counted in the total.
Here's why:
Line 3b is filled from Sch K-1 At-Risk Limitation Allocation Worksheet Section A Line 1, the column "Allowed Income or Loss". That figure is the sum of the 2 columns to its left - one of which is "Carryover Prior Year Loss"
So in summary, the prior year loss is being double counted on Form 8582. It's part of both Line 3c on that form and the summation from the K-1 that appears in Form 8582/ Line 3b
Can someone help me check this out?
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I have detected the same problem. What do we have to do to get it fixed.
I think all we can do is keep checking and occasionally add a message like this one to keep the thread alive and growing. In the past at least, eventually a moderator shows up and says something non-committal but then we know its been logged.
In the worst case I'll use the "override" function on my taxes and calculate the way I think is correct. Fortunately this is a loss carry-forward issue for me so it won't hit the bottom line this year.
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