I prepare 1120s and then import to 1040. The 1120s/k-1 has a basis limitation for the loss. Can the limitation be entered manually at the 1120s level prior to import or must I manually adjust once imported to the 1040? Proseries.
Solved! Go to Solution.
I have done this in previous years by manually adjusting income on the k-1 after import. Basis is tracked on the 1120s side and there is only one shareholder. So I wasn’t sure if I was missing something before import.
Thanks for you help!