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wbuchner
New Member

Program features TurboTaxCD/Download. Will 2020 loss be carried back to 2019 amended return?Will it calculate how much and then carry the unused portion forward to 2022?

Program features TurboTaxCD/Download. Will 2020 loss be carried back to 2019 amended return?Will it calculate how much and then carry the unused portion forward to 2022?
2 Replies
VolvoGirl
Level 15

Program features TurboTaxCD/Download. Will 2020 loss be carried back to 2019 amended return?Will it calculate how much and then carry the unused portion forward to 2022?

What kind of loss?  A business NOL or investment capital loss?

fanfare
Level 15

Program features TurboTaxCD/Download. Will 2020 loss be carried back to 2019 amended return?Will it calculate how much and then carry the unused portion forward to 2022?

If you are trying to carry back Section 1256 losses incurred in 2020, you will have to do all the calculations yourself.

Read the instructions several times.

If you make an error, expect to be audited.

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