MATT09
Level 1
09-10-2020
06:17 PM
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sjrcpa
Level 15
09-10-2020
09:06 PM
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Please don't SHOUT.
Use some of the details space to give some more details on precisely what you're asking.
Are you preparing LLC A's 1065?
The more I know the more I don’t know.
MATT09
Level 1
09-10-2020
09:44 PM
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Sorry about that. Yes I am preparing the return for A. B & C have losses and C's loss brings A's basis in C below zero .
sjrcpa
Level 15
09-11-2020
09:04 AM
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Lacerte is not very robust when it comes to pass throughs to pass throughs. You'll need to compute the allowed loss yourself and manually limit it in the return. Keep a side spreadsheet of your computation and carryover.
The more I know the more I don’t know.