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I have no investments this year, but have a carry over from previous year. Do I need to include schedule d in my return, as it stops me from using TurboTax free edition.

 
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3 Replies

I have no investments this year, but have a carry over from previous year. Do I need to include schedule d in my return, as it stops me from using TurboTax free edition.

if you don't you may lose out on any loss carryover.  I'm unsure if any of that loss would show up on line 7 of the 1040 and there will be no schedule D in the e-file packet. You can be sure the IRS will send you a polite note  asking for that schedule though it might not be for a couple of years.  there may also be issues when you do the 2024 return as to whether or not the correct carryforward, if any, is included. 

I have no investments this year, but have a carry over from previous year. Do I need to include schedule d in my return, as it stops me from using TurboTax free edition.

TurboTax Free Edition is very limited. It's only for the simplest tax returns. Keeping or using any of the capital loss carryover requires the Deluxe or better. 


If your AGI is $79,000 or less you can probably use IRS Free File.

 

And the IRS is testing a pilot program called Direct File ...  https://www.irs.gov/about-irs/strategic-plan/direct-file

I have no investments this year, but have a carry over from previous year. Do I need to include schedule d in my return, as it stops me from using TurboTax free edition.

If you insist on using free edition, you can file without Schedule D.

Then file form 1040-X with schedule D

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get Form 1040-X from IRS website and mail it in with your corrected Schedule D, which you can also get in fillable PDF.
Note: when you are not changing any dollar amounts on your 1040-X, you can leave all the lines 1-23 EMPTY.

 

Do not include your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return.

Part III explanation: "Oops forgot to attach schedule D"

 

@jtwinkie03 

 

 

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