PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for IRS Form 6198
for the current year.
Instructions for IRS Form 6198 At-Risk Limitations
This document contains official instructions for IRS Form 6198 , At-Risk Limitations - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 6198 is available for download through this link.
FAQ
Q: What is IRS Form 6198?
A: IRS Form 6198 is used to calculate the at-risk limitations for tax purposes.
Q: What are the at-risk limitations?
A: At-risk limitations determine the amount of losses a taxpayer can claim for certain business or investment activities.
Q: Who needs to fill out IRS Form 6198?
A: Taxpayers who have investments or business activities that are subject to at-risk limitations must fill out Form 6198.
Q: What information is required on IRS Form 6198?
A: Form 6198 requires information about the taxpayer's at-risk amount, deductions, and income from the activity.
Q: What happens if I don't file IRS Form 6198?
A: Failing to file Form 6198 when required can result in incorrect tax calculations and possible penalties from the IRS.
Q: Can I claim losses that exceed my at-risk amount?
A: No, losses that exceed the at-risk amount cannot be claimed and must be carried forward to future years.
Q: Can I carry forward excess at-risk losses?
A: Yes, if your losses exceed your at-risk amount, you may carry them forward to offset future income from the same activity.
Instruction Details:
- This 8-page document is available for download in PDF;
- Actual and applicable for filing 2023 taxes;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of IRS-released tax documents.
1
2
3
4
5
6
7
8
