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SureFire Sch C prior year losses (How do I deduct PY losses) - Need assistance reviewing return file to determine where PAL occurred and how to deduct them in current year.

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All investment is at risk. If all amounts are at risk in this business, check box 32a. If you answered Yes on line G, your loss will not be reduced by the at-risk rules or the passive activity loss rules. See Line 31, earlier, for how to report your loss. But if you answered No on line G, you may need to complete Form 8582 to figure your loss to enter on line 31. See the Instructions for Form 8582 for details.

Some investment is not at risk. If some investment is not at risk, check box 32b; the at-risk rules apply to your loss. Be sure to attach Form 6198 to your return. If you answered "Yes"" on line G

Tags: federal,form