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I have a capital loss (on my S-chapter corp) this year, which is eligibler for Cap Loss Carryback to the previous 3 years. My question concerns how I fill in the blanks correctly: namely: the loss shows up on my K-1 statement, which would normally flow through my Schedule E to the first page of my 1040. However, I don't have the income to offset it on my personal 1040, so I need to carry it back to 1998, where it can do some good for a refund. Do I take the figure off the K-1, bypass my Schedule E and 1040 altogether, and fill out a Schedule X for 1998, filling in the full loss to process a refund, or...... do I somehow still show the loss from the K-1 on my Sched E, 1040, and somehow take the balance leftover from adjusted gross income, and process THAT amount on a Schedule X for 1998. Many thanks for any help you can give me.

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