jeffmcpa2010
Level 11
04-06-2022
10:24 AM
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Part II and Part III of 6198 start out by asking for your basis.
IF Basis is 0 it will limit losses.
If you have no basis you are considered "not at risk" and 6198 is required and will limit the losses.
I disagree with your conclusion, but we may have to agree to disagree on this one.