TaxGuyBill
Level 15
05-01-2021
08:12 PM
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@CHASSOCIATES wrote:
on the shareholder’s basis worksheet Page 2 there is a Total allowed loss of $90,365.
A Basis worksheet does not dictate claiming a loss.
You need to find out where that $90,365 came from and what it means. It *MIGHT* mean there was a prior loss that was not allowed on the 1040 due to Basis limitations. But that is ONLY a guess.
Once you find out the details about what the $90,365 means, we may be able to help you figure out how to enter it (if it is entered at all).