Rookydb
Level 2

I have a client that has prior suspended loss from 1120-s k1 of -71k.  This year the company had ordinary income of 94k but they took 54k in distributions.  Form 7203 shows that the shareholder has basis to take 40K of prior year loss.  However, Sch E is showing PYA of -71k.  I have called proseries last week and again today and they tell me I need to override the numbers on Sch E.  Am I thinking about this correctly?  or is there an issue with proseries programming?  If I override there doesn't seem to be any way to get the remaining 31k of suspended loss to carryover.  Am I wrong in believing that the suspended loss should be limited?

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