mfam
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Maybe my mis-understanding is that the entry on the form for the carry over loss is entitled "Carryover Prior Year Loss", but what is meant is "At-Risk Carryove...
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Say my carry forward losses were $100K.If during 2017 I added $1 of investment in the company, my cost basis is $1 and I have at-risk 'skin in the game', right?...
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Rick,The software does work as you suggest, but shouldn't there be a question to ask how much of my carry-forward losses are at-risk?Why would it assume that my...
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Yes, no basis and active.If I follow TurboTax instructions and put accumulated carry forward losses in the box shown in the image, my tax liability for 2017 dec...
Activity Feed for mfam
- Posted Maybe my mis-understanding is that the entry on the form... on Investors & landlords. ‎June 6, 2019 7:43 AM
- Posted Say my carry forward losses were $100K. If during 2017 I... on Investors & landlords. ‎June 6, 2019 7:43 AM
- Posted Rick, The software does work as you suggest, but shouldn'... on Investors & landlords. ‎June 6, 2019 7:43 AM
- Posted Yes, no basis and active. If I follow TurboTax instructi... on Investors & landlords. ‎June 6, 2019 7:43 AM
- Posted K-1 shows loss. Cost basis=0,so can't deduct, but no indication of that in TurboTax "Schedule K1 At Risk Allocation Worksheet". Can I put carry-over loss here to benefit? on Investors & landlords. ‎June 6, 2019 7:43 AM