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Have sched K net operating loss carryover of $3,000 per year. Where is it on my federal forms? State shows the whole remaining amount of $27k, loss, why?

 
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Anonymous
Not applicable

Have sched K net operating loss carryover of $3,000 per year. Where is it on my federal forms? State shows the whole remaining amount of $27k, loss, why?

there is no schedule K in a federal return.  do you mean schedule d?      your total capital loss is shown on line 16 of schedule D.  the tax federal tax laws only allow you to deduct $3,000  per year.

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1 Reply
Anonymous
Not applicable

Have sched K net operating loss carryover of $3,000 per year. Where is it on my federal forms? State shows the whole remaining amount of $27k, loss, why?

there is no schedule K in a federal return.  do you mean schedule d?      your total capital loss is shown on line 16 of schedule D.  the tax federal tax laws only allow you to deduct $3,000  per year.

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