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Use Form 6198 to Figure the Current Year Profit Loss from an at Risk Activity for Part I

Use Form 6198 to Figure the Current Year Profit Loss from an at Risk Activity for Part I

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Instructions and help about Use Form 6198 To Figure The Current Year Profit loss From An At risk Activity For Part I

so we'll be going over IRS form 461 uh limitation on excess business losses so at the time of this recording uh this is the most uh recent version this of this form the 2023 tax year uh we we are expecting the 2024 uh version to come out shortly uh we'll get to the primary differences later on in this video uh so what we're going to do is we're going to go over how to complete this form uh and the source information where it goes uh you can see a lot of references to schedule one so we're going to break down where you would get each of those pieces of information and then uh how it applies to your tax return and then we're going to go over some key Concepts that you may need to understand so um let's go over the form uh uh in this case we've got our hero John do he is filing this form and it's onepage long uh you can see that it's not even really one page it's broken down into three parts so there&a

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