dansherpa
New Member

Investors & landlords

>> "Massachusetts (MA) allows the capital loss carryover. Step through the MA return to see if you missed a screen for questions about it, however TurboTax should carry it automatically.  It will come through Schedule B."

 

True, "Massachusetts (MA) allows the capital loss carryover." The issue is that TurboTax for Massachusetts is not automatically carrying over these losses from the prior year, even though it has that information available to it. Going through the Massachusetts interview, there is a question asking if you have prior year LT and ST carryovers, and it defaults to "No". But it should already know that you did if you gave it access to your prior year's return, in which case it should default to "Yes".

 

Also, ST cap gains are on Sched B as stated, but LT cap gains are on Sched D.