maxflitom Posted February 12, 2008 Report Share Posted February 12, 2008 I called ATX tech support to ask them if the ATX MAX program can assist us in tracking suspended losses from those who do not have basis in an S-Corp or Partnership to claim a loss. Does anyone know if ATX will help us track these suspended losses when we rollover returns? If it does, how is the K-1 entered so that it does not show on the current year Sch E and will rollover the suspended loss on the following year? ATX support was of little help. maxflitom Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 13, 2008 Report Share Posted February 13, 2008 After you input the K1 info, then add the 6198, that is where you calculate the limitations. The program will keep up with any suspended amount, and roll it over to the next year. You enter the 6198 limitation amount on the worksheet section right after the Line 20 boxes. Quote Link to comment Share on other sites More sharing options...
msbaysalr Posted March 27, 2008 Report Share Posted March 27, 2008 KC, Back in Feb you answered a question on the 6198. You made the following statement: You enter the 6198 limitation amount on the worksheet section right after the Line 20 boxes Where is the Line 20 boxes? Which worksheet? I know once you figure this out it probably goes smoothly but right now I am not getting the info in without overriding. Thanks for any help Anne Quote Link to comment Share on other sites More sharing options...
RitaB Posted March 27, 2008 Report Share Posted March 27, 2008 KC, Back in Feb you answered a question on the 6198. You made the following statement: You enter the 6198 limitation amount on the worksheet section right after the Line 20 boxes Where is the Line 20 boxes? Which worksheet? I know once you figure this out it probably goes smoothly but right now I am not getting the info in without overriding. Thanks for any help Anne I am having trouble here, too. Glad you asked this question. Last year I just used Form 8582 on someone and didn't even open Form 6198. The program rolled over the info to this year's 8582. Now I'm worried that I should have attached 6198. All of taxpayer's loss was/is still suspended. I guess I need to amend 2006 to attach 6198? Quote Link to comment Share on other sites More sharing options...
msbaysalr Posted March 28, 2008 Report Share Posted March 28, 2008 Yes, I would still like for someone to give us the correct way to enter the suspended losses on a SCorp shareholder. I am sure if they are entered right that they will flow thru. Can someone please help on this? Thanks Quote Link to comment Share on other sites More sharing options...
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