S Corp Basis Limitation Of Loss

[Booger]

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

[OldJack]

Loss limitation is determined at the shareholder tax return level and is not shown anywhere on the S-Corp tax return. This due to each shareholder may have a different basis and limitation.

[Booger]

OldJack, I know that. What I was asking is how do you input the amount of loss allowed on the SHAREHOLDER'S K-1 input sheet in ATX? Do you input only the allowed loss on line 1 of the K-1 input sheet?

Booger

[OldJack]

You do the At-Risk Limitation form 6198.

[Booger]

Thanks, OldJack. Have a great and profitable New Year!!

Booger