6198 At-Risk Limitations

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6198

Form
(Rev. November 2024)
Department of the Treasury
Internal Revenue Service

At-Risk Limitations

OMB No. 1545-0712

Attach to your tax return.

Attachment
Sequence No. 31

Go to www.irs.gov/Form6198 for instructions and the latest information.

Identifying number

Name(s) shown on return
Description of activity (see instructions)

Part I
1
2

TREASURY/IRS
AND OMB USE
ONLY DRAFT
June 20, 2024
DO NOT FILE

Current Year Profit (Loss) From the Activity, Including Prior Year Nondeductible Amounts.
See instructions.

Ordinary income (loss) from the activity (see instructions) . . . . . . . . . . . . . . .
Gain (loss) from the sale or other disposition of assets used in the activity (or of your interest in the
activity) that you are reporting on:
a Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Form 4797 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c Other form or schedule . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Other income and gains from the activity, from Schedule K-1 (Form 1065) or Schedule K-1 (Form
1120-S), that were not included on lines 1 through 2c . . . . . . . . . . . . . . . .
4
Other deductions and losses from the activity, including investment interest expense allowed from
Form 4952, that were not included on lines 1 through 2c . . . . . . . . . . . . . . .
5
Current year profit (loss) from the activity. Combine lines 1 through 4. See the instructions before
completing the rest of this form . . . . . . . . . . . . . . . . . . . . . . .

Part II
6

11

the activity) on the first
. . . . . . . .
. . . . . . . .
. . . . . . . .
. . . . . . . .
10a
(or complete Part III).
. . . . . . . .

}

20
21

3

4

(

)

5

6
7
8
9

10b

Detailed Computation of Amount at Risk. If you completed Part III of Form 6198 for the prior year, see
the instructions.

Investment in the activity (or in your interest in the activity) at the effective date. Do not enter less than
zero
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
Increases at effective date . . . . . . . . . . . . . . . . . . . . . . . . .
13
Add lines 11 and 12 . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
Decreases at effective date . . . . . . . . . . . . . . . . . . . . . . . . .
15
Amount at risk (check box that applies):
a
At effective date. Subtract line 14 from line 13. Do not enter less than zero.
b
From your prior year Form 6198, line 19b. Do not enter the amount from line 10b of your prior
year form.
16
Increases since (check box that applies):
a
Effective date
b
The end of your prior year . . . . . . . . . . . . . . . .
17
Add lines 15 and 16 . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
Decreases since (check box that applies):
a
Effective date
b
The end of your prior year . . . . . . . . . . . . . . . .
19a Subtract line 18 from line 17
. . . . . . . . . . . . . . .
19a
b If line 19a is more than zero, enter that amount here and go to line 20. Otherwise, enter -0- and see
Pub. 925 for information on the recapture rules . . . . . . . . . . . . . . . . . .

Part IV

2a
2b
2c

Simplified Computation of Amount at Risk. See the instructions before completing this part.

Adjusted basis (as defined in section 1011) in the activity (or in your interest in
day of the tax year. Do not enter less than zero . . . . . . . . . .
7
Increases for the tax year (see instructions) . . . . . . . . . . . .
8
Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . .
9
Decreases for the tax year (see instructions) . . . . . . . . . . .
10a Subtract line 9 from line 8 . . . . . . . . . . . . . . . .
b If line 10a is more than zero, enter that amount here and go to line 20
Otherwise, enter -0- and see Pub. 925 for information on the recapture rules

Part III

1

11
12
13
14

15

16
17
18

19b

Deductible Loss

Amount at risk. Enter the larger of line 10b or line 19b
. . . . . . . . . . . . . . .
Deductible loss. Enter the smaller of the line 5 loss (treated as a positive number) or line 20. See the
instructions to find out how to report any deductible loss and any carryover . . . . . . . . .

20
21 (

)

Note: If the loss is from a passive activity, see the Instructions for Form 8582, Passive Activity Loss Limitations, or the
Instructions for Form 8810, Corporate Passive Activity Loss and Credit Limitations, to find out if the loss is allowed under the
passive activity rules. If only part of the loss is subject to the passive activity loss rules, report only that part on Form 8582 or
Form 8810, whichever applies.
For Paperwork Reduction Act Notice, see the Instructions for Form 6198.

Cat. No. 50012Y

Form 6198 (Rev. 11-2024)