- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Regarding out-of-state-losses, what amount do I enter? The actual amount of loss ($27,000) or the amount on 1040 line 7 ($3,000)?
I am filling out my South Carolina state return. TurboTax is aksing me to enter my "out-of-state losses". I sold real property in North Carolina for $15,000 less than I purchased, plus there was a real estate commission fee of $12,000 for a total loss of $27,000. However, I was only able to deduct $3000 from my income on my 1040 (line 7). The TubroTax prompt for "out-of-state losses" is not clear on what amount I should enter or what "type" I should say it is. Please help.
Topics:
‎April 5, 2021
7:21 AM