Glenn Z
Level 2

 

In a case where the taxpayer’s share of the ordinary loss reported on a K-1 from an investment in an S-Corp. exceeds his basis, the section titled “Disallowed Smart Worksheet” at the bottom of form 6198 does not populate automatically, even if the beginning of the year basis is reported in both the Simplified Computation and the Detailed Computation sections of form 6198.  It appears that you must “override” the fields in the “Disallowed Smart Worksheet” to limit the loss.  Is there a way to get the fields to populate automatically, so you do not have to “override” any fields in the tax return?