chanp Posted March 12, 2009 Report Share Posted March 12, 2009 Hello all, I know this is very common question but I cannot find my answer in this forum. I have a client with a 2007 non-deductible K-1 loss (20000) but have a K-1 profit (1500) in 2008. I entered the 2008 K-1 in a K-1 worksheet and added a form 6198 but could not figure how to enter the 2007 loss to offset the 2008 profit and carryover the remaining loss to 2009. Last night, I had already spent 4 hours to try all the possible ways I can think of. Thank you so much Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted March 13, 2009 Report Share Posted March 13, 2009 You enter the carryover loss down near the bottom of the K-1 Input sheet, where it says "PTP Carryovers and At-Rick Limitations" Quote Link to comment Share on other sites More sharing options...
chanp Posted March 13, 2009 Author Report Share Posted March 13, 2009 Hello KC, I will try it and let you know. What I did last night was to use the 6198 to calculate the allowable loss for the year 2008 and manually added a dummy K-1 (same tax ID) to enter the PYA loss (calculated from 6198 which did not flow to any form). So, I have both the 2008 income and the 2007 non-deductible loss allowed in 2008. Thank you so much. I will definitely try your way. Quote Link to comment Share on other sites More sharing options...
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