trish-33540
Level 1
03-31-2021
11:47 AM
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Just trying to be sure I understand your solution to the loss limitation due to basis. You said to enter the amount up to the basis as a loss. Enter it where exactly? Only way I see to do it is on the K-1 itself. Then the carryover loss does not show up on the tax return anywhere, correct? Next year, I will adjust the K-1 line one amount to reflect my calculated carryover, correct?