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S Corp Basis Limitation Of Loss


Booger

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An S Corp shareholder's loss from the K-1 is going to be limited by his basis in 2010. Don't know the exact amount yet. I'm

trying to figure out how to input the K-1 info so that the deductible amount of the loss flows correctly to page 2 of the Schedule E. This is NOT a passive activity. Do I input the deductible loss on line 1 of the K-1 input sheet, or is there another input space on the K-1 input sheet for the nondeductible portion of the loss? I have looked at the K-1 input sheet fairly closely, but could not find an appropriate space.

Thanks in advance.

Booger

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