What is the Federal Carryover Worksheet and what exactly do they want me to do with it? I begining to think it is just a way to get the extra $59 out of me.

[LisaBr]

Federal Carryovers can be losses, deductions and other entries, that are carried from last year to be used this year.  If you did not have any kind of carryovers from last year to be used against income or deductions for this year, this may not refer to you.  An entry may have accidently created this form and it can be deleted.

1. Select Tax Tools.
2. Choose Tools.
3. Choose Delete a Form
4. Find Federal Carryover forms and all worksheets attached to it, select Delete. 
5. As a step to be sure the form has been deleted, run through step 4 once more to be sure that form was deleted as well as any related worksheets. 

[Suz129]

I can't find anything labeled Tax Tools. Where is it?

[marivero]

When I deleted this worksheet, TT had me go through and re-enter our state tax refund info. Deleting the form didn't work for us.

TT demands I fill in "applicable percentage" on tis Federal Carryover worksheet and I have no idea what this refers to. This appears to be a worksheet specific to TT, not an IRS worksheet.

[hairbydwane]

This is not helpful. No such buttons in 2021 turbotax

[MichelleLO]

You are commenting on an old thread that may contain outdated information. Do you have a specific question we can assist you with?

@hairbydwane

[jf799568]

I cannot find any information on this either. Site won't let me move forward, demanding I fill out Carryover worksheet  "total payments and withholding" from previous years state return. Neither Turbotax nor Google has explanations as to what this means, how to do it, where to find it, etc. I don't even know what I'm looking at. The worksheet has rows & rows of empty boxes........and yes, they have tried to upsell me a dozen times!

[luilui]

Old thread, but for those having trouble. The answer was to delete the form like mentioned above. 

Via web > Choose Tax tools on the left pane > Choose Tools > Delete "Carryover form" > Done

I did notice I had to run through my state form again as a result.  Nothing major though.  But it worked.

[CarissaM]

Thank you for providing the answer on this, @luilui. 

[dconant1]

I have a lengthy question.  I apologize ahead of time.  I use TT (CD version every year). Last year (2021) the Schedule C would not allow me to enter depreciation on Line 18 as it has every year for the past 10!  I could not get it entered, even trying to OVERIDE.  I lost money to the IRS due to this and no one could explain why the program wouldn't allow this deduction.  This year I want to do my tax, again using TT (CD) version, in 2 ways, and I'd like to know if this is going to work.  First, I will download and transfer all the data from 2021 to 2022, just as always.  This makes things much easier as it has names, Soc Sec #'s, addresses, and Federal Carryover Wksht from huge losses I'm still using from 2009.  Once this is all loaded, I will go directly to Schedule C and see if the program will allow an entry this year on the depreciation line 18.  If it doesn't then I want to try a second option, still using TT (CD).  But I need to understand whether TT will allow this.  I will choose FILE/NEW TAX RETURN and use a different file name.  Now if I do this will TT allow me to insert all the data myself versus transferring all the 2021 data to this new file name for 2022?  Because I'm thinking that may be the reason that line 18 isn't accepting an entry.  If TT doesn't pre-fill in this second option, then it will be like I'm doing a FRESH return.  What do you think of using this 2nd option if the 1st still doesn't work?  And can anyone give add'l options that I could try?

[VolvoGirl]

Yes you can do that and your second option.  Don't know why you couldn't enter depreciation.  

Do you have a loss on Schedule C?  Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year.

Did you set up the assets?  Did you add any new assets?  Maybe you finished depreciating the assets the year before?  Or said you sold the asset.  Last  year you must have answered a question wrong or checked a wrong box.  I don't remember any problems with depreciation last last year.  

[dconant1]

Volvo Girl - I appreciate you 'weighing' in on this.  We live in our house 44 weeks each year and rent it for 8 weeks in summer.  The Schedule C is how we list all the rental income that is received and then we offset that by using 8/52 of the utility, tax, insurance (and etc.) expenses.  Naturally, depreciation is part of that expense.  The bottom line (for the past 10 years we've done this) never comes down to $0.00.  However, it does substantially reduce our overall tax due.  I have gone over and over last year's return and cannot see any radio button in TT that I hit wrong, or didn't hit.  It's truly puzzling.  I have another option that I could try that I didn't describe in my prior post.  I'll install the Premier CD verison on laptop #1 and have 2021 data transferred to 2022 forms.  Then I'll go immediately to Sch C and see if I can insert the depreciation on line 18.  Maybe I can, or maybe more figures need to be inserted first.  I just don't insert figures for everything before knowing one way or another whether I'll be able to use the depreciation figure for 2022.  If that doesn't work, I'll load the CD 2022 on a different laptop.  It will be the CLEAN version without transferring any 2021 data.  I'm hoping that using that I'll be able to insert depreciation on line 18, plus get the Fed Carryovers from 2021 off laptop #1 because I don't have the mathematical ability to figure out what that amount should be.  What do you think?

[VolvoGirl]

Sorry I really don't know much.  But shouldn't you be filing it on Schedule E for rental income instead of Schedule C?

[dconant1]

V-Girl - you're right.  I should have said it was Sch E.  

[VolvoGirl]

Then I really don't know about Schedule E.  I was posting about Schedule C depreciation.