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My Short term and Long term capital loss on my schedule D 1040 is incorrectly being transfered from 2022 into 2023 return.

Example: 
My 2022 Capital loss
Line 7 Short term = 2000
Line 15 Long Term = 1000

It has automatically transferred to my 2023 as follows:
Line 6 - Short Term carry over loss = ( 2000 - 1000 ) = 1000
Line 14 - Long Term caryy over loss = ( 0 ) = 0

I have gone through the final review and check on the TT software and ensured the 2022 short/long term are correct. 

Is this incorrect? How do I correct it on the TT software, because I did enter it correctly on the software, but the final return 1040 schedule D is not correct. Is this a error with the TT software that needs to be fixed by Intuit? Any help is appreciated.
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2 Replies

My Short term and Long term capital loss on my schedule D 1040 is incorrectly being transfered from 2022 into 2023 return.

we can't see your returns. but short-tem losses are used first - to the extent negative AGI is not created,

 

you reported $3,000 in losses in 2022 if only $1,000 of STCL was used that would indicate you had a negative agi (line 11) of $2,000 so only $1,000 STCL was used. For 2023 you should have $1,000 STCL c/o and $1,000 LTCL carryover.

 

to make sure check the capital loss carryover worksheet to 2023 in the 2022 return.

 

if they are incorrect, unusual because no one else has reported this issue with CLCOs transferring from 2022  to 2023, go onto the carryover worksheet where you can correct the c/os

 

 

My Short term and Long term capital loss on my schedule D 1040 is incorrectly being transfered from 2022 into 2023 return.

Thanks Mike for the prompt response. I am using Turbo Tax premium software installed in my PC. Is there a way I can show you? 

Secondly, do you know how to change the worksheet on the app? 

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