Sorry for some reason it appears the question got truncated; see below...
For my 2021 taxes when I get to the capital loss carryover section using TT Premier 2021; I am prompted to enter the carryover amounts from 2020. To fill out the fields for short and long term capital loss carryover for both the Regular Tax and AMT I referenced the "Capital Loss Carryforward Worksheet from my 2020 return.
First Question: is this the correct form to use to populate these entries?
Second Question: using the"Capital Loss Carryforward Worksheet from my 2020 return; the LT cap loss carry forward to 2021 for Regular Tax shows $2,361 and AMT shows $0. So, on the 2020 return the same value of $2,361 was used on form 1040 Line 7 as a cap loss (-$2,361). Is it correct that the same exact amount of $2,361would carry forward to 2021 as a LT cap loss as well? I am presuming this could be correct because TT 2020 form 1040 Line 15 taxable income showed ZERO but actually calculates as -$8,886 and so if I were to add back the $2,361 LT cap loss to the -$8,886 of taxable income the result would still calculate out to a negative taxable income at -$6,525 possibly justifying the duplicate carry forward to 2021.
Please advise based on the two questions above.
Thanks,
geauxbro
