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Is the 2019 individual business loss limitation $255,000/$510,000 as shown on IRS Form 461 or is Intuit correct with $250,000/$500,000?

kathyscpa
Level 2
 
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kathyscpa
Level 2

Thank you. Intuit is using the wrong limitations on the return review.

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5 Comments 5
TaxGuyBill
Level 15

Both the Form itself and the Instructions show $255,000/$510,000.

If Intuit is using something else, they are wrong.

IRonMaN
Level 15

@TaxGuyBill  - you aren't out shoveling snow today?   Or are you plotting another kidnapping instead? ☃️


Slava Ukraini!
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TaxGuyBill
Level 15

Hey, what happened to my post?  I just posted a story about the snowman, it is gone!

 

IRonMaN
Level 15

I was responding to it and it disappeared.  Did Intuit's hot air melt it?


Slava Ukraini!
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kathyscpa
Level 2

Thank you. Intuit is using the wrong limitations on the return review.