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This might be a carryover loss from 2018. If you have more than $3,000 in investment losses, TurboTax will use $3,000 each year until the losses are used up.
i had 3638.00 in capital loss in 2018 and used 3000.00 and in 2019 turbo tax also carried 3000.00 also instead of 638.00
Did you have a loss carry over from 2017? I suggest you review your 2018 return and make sure your loss was only $3,638.
make sure your loss was only $3,638.
Just to clarify. On your 2018 return the loss would have been $6,638 with a $3,636 loss carryover to 2019.
One other option is that you could not use the loss on the 2018 return so it is allowed to be carried forward to 2019 ... please review the 2018 carryover worksheet to see how this is being calculated.
I have a capital loss carryover from last year after having a qualified disposition of real estate. TT shows the carryover from last year but does not show any application of the carryover against 2019 ordinary taxable income after applying $3000 against capital gains. I have a large remaining balance which should be offsetting ordinary income but I can't access Schedule E. Is there an update coming on TT to fix this?
No- it's not the same loss again. I have over $200k loss carryover and it maxed out the $3000 capital gain but didn't use the excess carryover to offset ordinary income
no- I understand this passive loss carryover is supposed to go against ordinary income after first offsetting any capital gain. At this rate I will never use up the carryover and TT applied the excess last year to my ordinary income but is not doing this year.
This is a qualifying disposition resulting from suspended losses under paragraph 469g. Losses are supposed to be offset against capital gains first, the against ordinary income, but TT is not doing it. Schedule E is not being used by TT- is there an updatecoming?
This is not correct!
I need to talk to someone. I have a carryover loss that should be offset against taxable ordinary income but TT is not doing it. Even the TT advisor in writing I can offset this carryover loss vs ordinary income but it is only offsetting $3000 of the loss vs capital gains only. Please call [phone number removed]
See this TurboTax support FAQ for a contact link and hours of operation -https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
No loss in 2017
3638.00 in 18
so turbo tax used 3000 in 2018
and should have only used 638.00 in 2019 but used 3000 again
It seems there are a couple of different tax scenarios that will affect the amount that is deducted:
The following is in reference to the Section 469.
Disposing of a passive activity allows suspended passive losses to be deducted
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