I inherited a property in 2017 and took a loss on it. Every year I have been deducting $3K as a long term carry over loss. Turbo tax made it easy to add it in and it reduced my income. Now this year I get this in TT 2024:
Does not give me the -$3000 long term carry over for 2024. BUT I was playing around with it and if I put -$3000 instead of $0 in the net short term column ( Line7 ) in the above pic it DOES work. Says your carryover loss for 2024 is 3K and everything is cool. But of course "technically" I am carrying over a long term carry over loss and not a short term loss (line 7) so not really accurate.
I am hearing that TT has an error with this long term carry over. So what's the workaround if any? Should I just toss in the $3K above under net short term? It does work but I am not sure why.
Thanks for your time!
