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Capital Loss carryover DOES NOT WORK!

Just upgraded to Premiere or Premium, at this point don't care.

Multi year TT user with years of Capital Loss carryover maybe 12 or so.

EasY Step shows the -3000.  It will not populate correctly to Schedule D or 1040

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1 Reply
MarilynG1
Expert Alumni

Capital Loss carryover DOES NOT WORK!

If you used the program for 2023, capital loss carryover information will be automatically completed by the program.

Otherwise, if your 2023 return showed:
- a capital loss on line 6 of Form 1040
AND
- that loss was less than the loss shown on line 16 of Schedule D, 
then complete lines A through F of the 2023 Capital Loss Information Smart Worksheet.

 

From the entries in the Capital Loss Information Smart Worksheet, the program will complete lines 1 through 13 to determine capital loss carryover from 2023 to 2024. The carryover amount(s) will flow to this year's Schedule D.

 

If your program is not calculating correctly based on the above,  we can take a closer look at it if you're willing to send us a sanitized version of your tax return.

 

If you wish to do this, click Online at the top menu, then Send Tax File to Agent.

 

Post a screenshot of your sanitized tax file number here. 

 

@smithvi2734 

 

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