I bought a MLP in 8/2007. In determining my "Amount At Risk", the Interview in TurboTax ' interview (Simplified Method) asks for my Adjusted basis for 1/1/2007 and the increase/decrease in 2006. After that, it concludes that my Amt At Risk is $0. Is that Correct -- that my Amount At Risk is determined ao of 1/1/2007 for year 2007?
The MLP has a net loss, so the loss is suspended anyway and have no deduction for 2007. But nonetheless, just curious.
TIA