Form 7203

[voni39]

Hi

Can someone tell me if Form 7203 is actually working to limit losses on the 1040.  I know I have a basis limitation, but my 1040 is allowing me to take the total loss from our S Corp.  I don't know what I am doing wrong on Form 7203.  We have a stock basis and debt basis and our loss is in excess of both combined. 

Would really appreciate any help I can get.  TT told me they emailed me, but I cannot find their emails anywhere. 

Thank you.

[Mike9241]

doesn't work. didn't work in 2021 either

[voni39]

Thanks - How did you get around it?

[Mike9241]

finally figured it out in k-1 you must check that some investment is not at risk and also complete form 6198