ILLMAS Posted April 7, 2019 Report Share Posted April 7, 2019 Hello, I need some help with this form, I have prepared a worksheet to carryback losses, I am having trouble releasing the not allowed losses. TP sold their building in a short sale taking a 147K loss, based on the TP income they were only allowed a 13K loss: 108,000 in wages -13,000 allowed losses -9,350 HOH 85,650 taxable income Happened in 2016 According to my information, TP has 134,000 losses available, however on form 1045, the available losses is capped at the $85,650. If I were to overide the loss, then I would arrive at the 134K, however things don’t work like that and I am trying to figure out if I am really limited to the 85,650? Any help would be greatly appreciated it. Quote Link to comment Share on other sites More sharing options...
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