dbtaxsolutions
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05-04-2021
12:27 PM
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So, I am preparing a 2020 tax return, that has carry forward amounts to losses from 4797. It seems that it's linked to s Corp k-1, which there should not be any k-1 because s corp was closed out in 2019. However, if I delete the k-1 because we do not have actual k-1 then the loss carry forward that is unused disappears. I have tried to work with proseries agent to find a way to re enter it without having a k-1 but no avail.
Is it ok to just keep the k-1 there just for the rollover purposes even though there is no actual k-1? I think not, but how else to show carry forward amounts?
Thanks for any help.
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