Hi After I entered all my information about my K1 that this year is a loss there is a screen that says Describe the Partnership. Says to check one of these: All of my investment in this activity is at risk andI have at-risk losses carrying over from 2021 I checked number 1 and says that I am required to do form 7203 but I don't have any idea how to do it! Please help

M

monica110

Question

Loss S corporation

Forum|Forum|2 years ago
April 5, 2024
1 reply
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Hi

After I entered all my information about my K1 that this year is a loss

there is a screen that says Describe the Partnership. Says to check one of these:

All of my investment in this activity is at risk and
I have at-risk losses carrying over from 2021 I checked number 1 and says that I am required to do form 7203 but I don't have any idea how to do it! Please help

TurboTax Live Premier Online

PatriciaV

Completing Form 7203 is a complex and tedious process. Since you are posting from TurboTax Live Premier, you should contact a Live Expert to help you complete this form: How do I connect with a Tax Expert in TurboTax Live?

You should receive step-by-step guidance from a tax expert, either over the phone or by screensharing.

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