S-Corp Losses /Carryover

[lisaj]

I have a S-Corp K-1 which shows a loss of 49,874 - However the basis on 1/1/2018 was 33,800 so there needs to be a loss carryover of 16,654 and I cannot get it to calculate this correctly.  It is allowing the total loss of 49,874.  Any suggestions on how to do this?

[IRonMaN · Accepted solution]

Your lucky number for today is 6198.

Check the correct box on the K-1 worksheet letting the software know that you have at risk limitations.

[lisaj]

Well for whatever reason I am not seeing that box.  

[IRonMaN]

On the K-1 worksheet in the 1040 module, Part II.

[lisaj]

I see that and have all investment at risk and filled out the 6198 with all the correct numbers but it still allowing the loss and not just a portion of it.  

[lisaj]

I added an attachment

[IRonMaN]

You need to check the other box "some investment not at risk"

[lisaj]

OK - that is what I was thinking.  Now I just need part of it deducted.  

[lisaj]

I got it - I have the 6198 filled out.