elite909
Level 1
a week ago
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I have a critical diagnostic that I believe is relating to Form 461, now when I check the form line 16 is not making sound. When I deduct line 15 to line 14 its not negative, hence it should not show to line 16.
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George4Tacks
Level 15
a week ago
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Remove the input for the form? Did you read the instructions?
"File Form 461 if you’re a noncorporate taxpayer (including a trust subject to tax under section 511) and either (i) your net losses from all of your trades or businesses are more than $305,000 ($610,000 for taxpayers filing a joint return), or (ii) you would report a loss of more than $152,500 on any one of Form 461, lines 1 through 8."
Is it required?
Answers are easy. Questions are hard!
