TaxGuyBill
Level 15

ProSeries does not limit losses due to Basis. 

  1. You need to manually do it by only entering the allowable loss (if any). 
  2. Manually make a note for next year.
  3. If Basis is restored next year, you will need to manually enter the newly allowable loss next year as a separate K-1 (labeled as "PYA").

 

Don't forget Form 7203.