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Level 5
May 10, 2020
Solved

k-1 loss limited due to basis

  • May 10, 2020
  • 4 replies
  • 23 views

How do I enter K-1 loss partially disallowed due to basis?  Will Proseries know how much to report on the sch E? Where is the basis worksheet? where do i indicate loss carryover due to basis limitation?

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Best answer by TaxGuyBill

ProSeries does not limit it or anything in connection with that.

You need to only enter the amount allowed up the the Basis, and manually keep track of the unallowed loss to carry forward.

4 replies

May 10, 2020

ProSeries does not limit it or anything in connection with that.

You need to only enter the amount allowed up the the Basis, and manually keep track of the unallowed loss to carry forward.

Level 5
June 10, 2020
  1. Do you have a template that you have used to manually track the basis limitations since Proseries does not have a basis limitation workesheet?