- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
@JayKepps You say that TT "brought in just enough capital loss carryover from previous year to compensate for this, PLUS an additional $3000".
Not exactly. TT brought forth your entire capital loss carry over from 2019 and put it on line 6 and/or line 14 on Schedule D. There it off set any 2020 capital gains and Capital gains distributions (but not dividends, not even "qualified" dividends). Anything left over, up to $3000, went to line 6 of form 1040, where it reduced your other income.
So just because the "refund meter", at the top of the page, didn't change doesn't mean TT hasn't done it's job. It the numbers are on the form lines, where they're suppose to be, it's "mission accomplished".
This is fundamental stuff that hasn't changed in years, and affects lot's of people.