PhoebeRoberts
Level 11
11-28-2022
10:18 AM
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Adjust any combination of current losses and prior unallowed losses to get the right answer. You could alternatively make an entry into the Separately Stated Items section for the adjustment amount, if you wanted some additional documentation of what you'd done.
This is one of those situations where any input that gets the right output will work, and there's no specific input or even best practices guideline.
Don't forget to adjust the AMT amounts, too.