Form 6198

Description

Form 6198 - is used to calculate:

1. the current year profit or loss from an at-risk activity,
2. the amount at risk, and
3. the deductible loss for the current year.

File Form 6198 if during the tax year you, a partnership in which you were a partner, or an S corporation in which you were a shareholder had non-recourse loans, stop-loss agreements, or other types of protection against losses for investments in an at-risk activity carried on as a trade or business or for the production of income in which you incurred a loss.

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