I just completed my 2023 federal tax return using the desktop version of Turbotax Premier. I also used Turbotax desktop in 2021 and 2022 and information from those returns was automatically imported into the 2023 return (except, apparently, as described below).
In reviewing the forms list, I noted that the Capital Loss Carryover Smart Worksheet (relating to "conversion" errors) had a large exclamation mark beside it indicating errors. The indicated errors (red boxes) were the absence of values in the following two lines on page 2 of the Worksheet:
Value from 2021 Schedule D for AMT, line 7.........._________
Value from 2021 Schedule D for AMT, line 15.........._________
Immediately above these lines is the following question: "Is this return impacted by inaccurate TY21->TY22 conversion?" The "Yes" box was automatically checked by the Turbotax program and the program further below had automatically filled in many numbers under columns entitled "Original TY21" and "Original TY22." The "corrected "amounts for several of these differed by several thousands of dollars from the "original" amounts. I assume that the Turbotax programs for 2021 and/or 2022 generated erroneous values for capital loss carryovers (query: only for alternative minimum tax purposes or for both AMT and regular tax?) and that the purpose of this worksheet is to correct those errors for 2023.
Going back to the "missing values" that prompted the error message for this form, my 2021 return did not have a separate "Schedule D for AMT." I did not pay AMT in 2021 (or for 2022) because the regular tax was greater.
My questions are:
What numbers I should input into the two blanks described above? Specifically, is the program asking me to input the numbers from lines 7 and 15, respectively, from the Schedule D for the regular income tax, since I did not prepare (and the Turbotax program did not generate) a separate Schedule D for AMT? And why didn't the program automatically input these values in light of the fact that it was able to automatically input many other values from the 2021 and 2022 worksheets and forms?
Finally, I am curious about the exact nature of the Turbotax program error that prompted the need for this "adjustment" worksheet and whether it could have impacted my previously filed returns for 2021 and 2022. Full disclosure from Intuit of what transpired would be appreciated.
