Form 6198 figures the profit or loss from an at-risk activity, the amount at risk and the deductible loss, and you attach it to your tax return. Activities under the separation rules need a separate form each. RepeatForm helps when you repeat it: upload a Form 6198 you completed and the current blank, then review.
Tested with the irs.gov edition dated Rev. November 2025
Plainly: this page helps most owners and preparers who complete a Form 6198 for an activity that runs year after year, or who have several activities to report. The benefit is your name, identifying number and the description of the activity. Every amount is different each time, and some lines draw on last year's form. If this is your first and only Form 6198, the benefit is small.
irs.gov says "Use Form 6198 to figure" three things: "The profit (loss) from an at-risk activity for the current year," "The amount at risk for the current year" and "The deductible loss for the current year." The instructions add "The at-risk rules of section 465 limit the amount of the loss you can deduct to the amount at risk." For more, they point to "Pub. 925, Passive Activity and At-Risk Rules."
The instructions say "Form 6198 is filed by individuals (including filers of Schedules C, E, and F (Form 1040 or 1040-SR)), estates, trusts, and certain closely held C corporations." They say to file it "if during the tax year you, a partnership in which you were a partner, or an S corporation in which you were a shareholder had any amounts not at risk" in an at-risk activity "that incurred a loss." Read the instructions to see how that applies to you. RepeatForm does not decide whether you must file.
The instructions say "File one form if your activities are listed under the aggregation rules. File a separate form for each activity if your activities are listed under the separation rules." They also say "When filling in Parts I, II, and III, enter only amounts that relate to the activity included on this form." So a second activity usually means a second form, which is where reusing your name, identifying number and a similar description saves retyping.
Part I is the "Current Year Profit (Loss) From the Activity." Part II is a "Simplified Computation of Amount at Risk." Part III is the "Detailed Computation of Amount at Risk," and Part IV is the "Deductible Loss." The instructions note "If line 5 shows a current year profit, you may not have to complete the rest of this form." RepeatForm does not choose the part for you.
Some lines depend on the prior year. Line 15 asks for "From your prior year Form 6198, line 19b," and the instructions say "If you filed Form 6198 for the prior tax year, include on line 4 of your current year Form 6198 any investment interest expense from the prior tax year that was limited because of the at-risk rules." Those figures are yours to take from last year's form and check. RepeatForm does not recalculate them.
Upload a Form 6198 you completed and the current blank; RepeatForm carries the matching answers across; you review them, then preview the PDF before you export. Use the earlier form as the source for each activity's form, then change what differs.
The IRS publishes a new Form 6198 when the form changes. Carrying an earlier copy into the new one works for many answers, but some fields are renamed or moved and match only partly, so check every line on the new form in Review before you export.
The PDF checked for this page is "Form 6198 (Rev. November 2025)". The About Form 6198 page on irs.gov links the current form and its instructions. RepeatForm does not supply the blank form: get it from irs.gov.
Form 6198 is attached to your tax return. The main return has its own page: Form 1040.
Line 3 draws on income from a partnership or S corporation Schedule K-1. For the partnership version, see Schedule K-1 (Form 1065).
Upload the two versions, check what matched, then inspect the finished PDF before paying.
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The IRS instructions say "The at-risk rules of section 465 limit the amount of the loss you can deduct to the amount at risk." Form 6198 is where you figure the amount at risk and the deductible loss. For more detail they point to Pub. 925. RepeatForm helps you reuse the details; it does not work out the amount.
The instructions say to file it "if during the tax year you, a partnership in which you were a partner, or an S corporation in which you were a shareholder had any amounts not at risk" in an at-risk activity that incurred a loss. Read the instructions for the full rules and exceptions, or ask a qualified adviser.
Sometimes. The instructions say "File one form if your activities are listed under the aggregation rules. File a separate form for each activity if your activities are listed under the separation rules." The instructions list which activities fall under which rule.
You can reuse the details that stay the same, such as your name, identifying number and the description of the activity. The amounts and the parts you complete can differ, and some lines look back to last year's form, so enter them again and check every line in Review.
