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budless1
New Member

What is 465d carryover 6,940

 
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ChristinaS
Expert Alumni

What is 465d carryover 6,940

A section 465(d) carryover comes from your indication on a previous' year's tax return that your overall loss was not deductible because you were not "at risk". If you Schedule C or rental Schedule E business has a loss, you are asked towards the end of the interview if you were "at risk". It appears that you indicated that you were not in 2015, and hence triggered this carryforward.

If this is Greek, I imagine you made a mistake in 2015. You may want to amend that return, so you can benefit from the loss on your Schedule C (or Schedule E)

Simply put, you are not "at risk" if the money you have used to pay for expenses is not yours to lose (i.e. you have a loan, but don't need to pay it back). Its possible to not be at risk, but its not common.

Info on finding and/or removing the carryover can be found here:

https://ttlc.intuit.com/questions/3066464-i-need-to-remove-465-d-from-taxes-how-do-i-do-that

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